How bad is Irish Austerity?

The roots of Ireland's Austerity:

(1) Ireland is being blackmailed to pay Germany's unguaranteed bondholders 32% of GDP.

(2) Our country was sacrificed to save private investors of banks.

(3) Pressure is justifiably growing against new austerity and Euro membership.

(4) Nobody wants to be a bankrupt slave to a European science project.

RobbieIE wrote:

The roots of Ireland's Austerity:

(1) Ireland is being blackmailed to pay Germany's unguaranteed bondholders 32% of GDP.

(2) Our country was sacrificed to save private investors of banks.

(3) Pressure is justifiably growing against new austerity and Euro membership.

(4) Nobody wants to be a bankrupt slave to a European science project.

You must look at it this way:
Completely dilettant Irish Politicians allowed an uncontrolled Irish banking System to borrow money from other EU Banks at ridiculous low interest rates to finance ruthless IRISH property developers to build and sell overpriced & badly build houses to the IRISH public. The IRISH republican Party FF gave a State Guarantee to the 2009 then ruined Banks and transformed Bank depts to Tax payers Depts.
Now  - : The Irish (as I see the Mentality) like to blame all  others instead of themselves. It always was either the English, the EU or in this case the Germans fault for the state of the country.
In 1972 the then EU member states took the poorest country in Europe on board. The only reason for this was mere politicly.
Ireland could only gain financially while the member states at that time only gained from the idea of European unification.

Lotto25 wrote:

RobbieIE wrote:

The roots of Ireland's Austerity:

(1) Ireland is being blackmailed to pay Germany's unguaranteed bondholders 32% of GDP.

(2) Our country was sacrificed to save private investors of banks.

(3) Pressure is justifiably growing against new austerity and Euro membership.

(4) Nobody wants to be a bankrupt slave to a European science project.

You must look at it this way:
Completely dilettant Irish Politicians allowed an uncontrolled Irish banking System to borrow money from other EU Banks at ridiculous low interest rates to finance ruthless IRISH property developers to build and sell overpriced & badly build houses to the IRISH public. The IRISH republican Party FF gave a State Guarantee to the 2009 then ruined Banks and transformed Bank depts to Tax payers Depts.
Now  - : The Irish (as I see the Mentality) like to blame all  others instead of themselves. It always was either the English, the EU or in this case the Germans fault for the state of the country.
In 1972 the then EU member states took the poorest country in Europe on board. The only reason for this was mere politicly.
Ireland could only gain financially while the member states at that time only gained from the idea of European unification.

Ireland didn't have a fiscal problem until we were forced to bail out our banks under European rules. The Irish bank guarantee of 2008 only covered limited securities. BUT the ECB under Frog Trichet threatened to cut off liquidity unless we pay the UN-GUARANTEED Bondholders and UN-SECURED Bondholders of failed banks. This pushed our deficit from 14% to 32% of GDP - a European record.

   
Not surprising considering most of these Bondholders are based in Germany and France:

http://order-order.com/2010/10/15/anglo … vestments/