Category Archives: Europe

More Greeks and Marbles

Posted on by
3

Just some very quick thoughts on matters European. Firstly the news from the summit yesterday is good, the interest rate cut is undoubtedly welcome and the longer repayment period will make cash flow and annual budgeting easier in the meantime.

It does mean we are paying back more interest in the longer term but again I think that’s a price worth paying for more day to day flexibility. Also with presumed inflation the capital amount to be repaid should be less in real terms by redemption date.

Really the Greek difficulty was Ireland’s opportunity. Ireland, along with Portugal and possibly Spain, got lucky in terms of the wider European events conspiring to mean an overall solution had to be brokered. In the early days the thinking from Europe seemed to have been to “make an example” out of Ireland however as the solution was rolled out across further countries and as the Euro was coming under increased pressure, eventually something had to give. It seems Greece itself will be permitted a degree of default but that it will be strictly ring-fenced to that jurisdiction. Not convinced this will work, neither is Shane Ross.

A good break for Ireland though. Of course the interest rate cut only applies to one element of the bailout, the EFSF proportion, for all their malignment, the IMF rate was always more hospitable (c. 3%) and then there is EU / ECB funding, the latter through the backdoor into the Irish banks (which is partly what forced the bailout to be formalised in the first place) and other arrangements. I understand the bilateral agreements with UK and other countries (Sweden?) have yet to be drawn down, so the rate on those may not have been finalised yet. So the interest rate cut is only one part of a much wider pie, including many lenders and many different rates, but still a welcome development all the same. Not a panacea but sure we’ll take a Parthenon while it’s going spare.

How not to run a government

Posted on by
2

I haven’t written here for a while and in the main I’ve just been too busy. I’ve exams coming up, I am in class most nights and I am busy in work as well. Yesterday was a typical enough day when I was on the 7.30 (train) up to Dublin in the AM and didn’t get back to base again until the 21.10 home. Busy but happy. Am greatly enjoying the study of the law, though it’s a slog and it’s been busy in work at the same time, I much prefer to be kept busy. I doubt I’d be doing this course if I’d been elected to the council, I would have been throwing my energies into the local arena, but as I’ve said before there’s only so much an unelected activist can do without a platform or a seat at the table. I plan to run again but the extra education and life experience will stand me in good stead either way, if I do later become a public representative a legal background will never be any harm.

On more general matters I’ve been watching events unfold on the national and European scene. Interesting if worrying that Portugal has now succumbed to an IMF bailout also. One has to wonder if parliament had held their nerve and passed their austerity budget would it have come to this. They chose to bring the house down and take their chances and will probably end up with similar if not harsher measures now anyway. Perhaps the politicians there thought if they could be seen to go down fighting they could escape an electoral bloodbath. They may just be punished now for shirking responsibility, I doubt they will escape political repercussion whatever happens.

It’s tempting to point to this and a follow-on predicted EU/IMF bailout for Spain and say Ireland wasn’t so bad, sure it’s happening across the EU. And that would be partly true. But just like the Portuguese, that doesn’t absolve the government here. Obviously the bank guarantee and other decisions will prove to have been critical along the way (although we still don’t know what the alternative would have been, even more so since the stark refusal of EU to sanction any kind of default within the community – including letting any bank fail – but I simply don’t know all the answers here, don’t think anyone does). But all that aside, what did for Fianna Fáil in the end was the attitude. Not the attitude of Fianna Fáil members up and down the country and I’ve spoken on that theme before, but I mean Fianna Fáil in government and the Ministers etc. It is simply unbelievable that in the middle of all this they saw (or at least appeared to see) nothing wrong with running for the hills with their satchels loaded. They may well have worked hard through their careers, and of course there were legal entitlements, but these were not normal times. There are senses of perspective sometimes needed and many let their party (and country) down badly. The perception projected out of government buildings right up to the end was one of business as usual with very little sense of adaptation or even awareness of a crisis. I am sure it was a hellish place to be towards the end, a bit of the Berlin bunker or Saigon rooftop about it, but it didn’t have to be that way. The Irish people are forgiving, they are understanding and with a bit of honest leadership and a real willingness to engage and a courage to lead it could have been Fianna Fáil’s finest hour. Brian Lenihan did manage to muster some of that spirit for a while but even he lost it at the end when it all just became too much talk. There are lessons to be learned from history as always. I think “Tell it straight, talk the talk but most of all walk the walk” about sums it up.

An executive dilemma

Posted on by
3

I watched Micheal Martin last night on Vincent (TV3). At the time I was figuring out my own plans for Saturday (when the Lisbon count will take place). I love being at count centres in any election there is a great buzz and it’s a bit like All Ireland day for the politically inclined.

Funny enough I feel differently about the polling day itself. A friend asked me this morning would I be taking tomorrow off (to be around for the voting). I remember being asked the same on GE day. It had never really ocurred to me. I mean, what would you do? Hang around polling centres trying haggling people for an extra vote? Shuffle around outside and talk about turnout? I’ve done the latter at times and it’s not terribly exciting. I’ll confess to being a bundle of nerves outside the polling station as polls ended on 5th June but that time it was personal.

I actually find polling day itself a little depressing sometimes. One almost feels embarrassed for haraunging the people over the preceding weeks and maybe for caring so much. Judgment day has arrived. And I do feel people should be allowed make up their own minds at that stage. The media moratorium is a good thing and it’s a bit of a calm before the storm for those who will be at the count centre watching the boxes spill open at 8am the following day. Too late to influence anything at that stage of course but still a hive of frenetic activity.

This Saturday, I believe the Kildare Count is on at Punchestown whilst the Dublin one is at Citywest just up the road. Am tempted to flit between the two for the morning although if I end up tallying I’ll need to stay at my post for the duration. Bound to be bit of buzz about the Dublin count with all the big players and probably media outlets there but be very keen to see how my own areas voted as well. A political dilemma. Anyway whilst I was thinking about what do it I spotted Micheal Martin again as he popped up on the TV screen. As Minister for Foreign Affairs he has more or less ran the campaign from the government side. He’ll want to return home to Cork on Friday to vote of course and presumably he’ll want to stay the night with his wife and children whom he probably hasn’t seen much of lately. However he may very well wish or even need to be back at the count centre in Dublin first thing Saturday morning. Given the recent exposé of our Ceann Comhairles travel penchant, and of course more pressingly the state of our national finances, it got me thinking about what his travel arrangements would be. Whilst In between glancing at Vincent and Micheal on the TV I was reading a book about UK Labour and just at the part where (Gordon) Brown was flying back from Edinburgh on the day of election in order to join the London victory party so such things were on my mind.

I suppose the default option would be travel via Ministerial Merc from Cork to Dublin early Saturday morning, to arrive by 8am. Probably want be on the road by 5.30 at the latest but it’s doable. I’m not sure whether the government jet would be an option, probably a very costly one, but it would save time and allow the Minister arrive refreshed and ready for duty and in good time for a full day ahead. A potential compromise may be to grab a Ryanair (or other internal) flight – whilst this would address the time factor, the transfer from Dublin airport back to CityWest has to be included which would add at least an hour with checkout etc, and also its not a great environment for work or relaxation on route. The government jet or chauffer options could go to Weston aerodrome or CityWest direct respectively. I think the possibilities are interesting in the context of the debate on what are reasonable expenses. We want our Ministers to turn up for duty, on time, fresh and ready to do their jobs. At the same time we want them to do it in a manner that is as cost efficient and value for money as possible. It should be noted that I have no idea what the Minister’s plans are for the night in question, he could be sleeping outside CityWest in a tent for all I know, and I certainly don’t purport to speak for him or his arrangements. Maybe I think about these things too much :)

Lisbon – one stop shop!

Posted on by
3

Good morning everyone and a special hello to anyone visting from the train station canvass this morning. I have collated a variety of Lisbon information over the previous few posts, some of it my own materials, others sourced from a variety of places but all explaining why it is my view that a Yes vote is the only choice that makes sense when we vote on the treaty on the 2nd October. Have a read and feel free to drop a comment or come back to me with any views, questions or queries. James

13 good reasons to say Yes

Posted on by
Reply

Why should we vote YES to the Lisbon Treaty?

1. Ratification ensures that each country keeps its commissioner. Under the previous Nice Treaty, each country would lose a commissioner to a proposed rotational system to be introduced in 2014. The Lisbon Treaty reverses this decision and provides that any changes to the number of commissioners beyond 2014 must be passed by a unanimous vote by the leaders of each country.

2. The Council of Ministers will meet in public. Up until now, they always met in private.

3. The EU Council will now be allowed to elect a president for a 2 and half year term. This new president won’t have any decision making powers however it will mean that we can put a face to Europe, especially at a global level. Also the country version will run over an 18 month term shared across three countries at a time, replacing the current system where the transition occurs every six months and to a single member.

4. The European Parliament will have new powers to overrule the EU Council’s decisions. The parliament will also now have joint control over the EU budget division. This will ensure greater accountability for the EU’s finances.

5. The Lisbon Treaty sets down concrete rules for new aspiring members (i.e. Turkey, Croatia, Ukraine etc.). Up until now, there were only vague guidelines for countries to adhere to before joining the EU.

6. The ECB will have more powers over its own monetary policy. This further separates politics from monetary issues which will ensure the survivability of the euro currency. Ireland’s membership to the euro currency at the moment is crucial to our own survivability. For instance, the rapid deterioration of the Icelandic currency in 2008 impoverished a once rich nation. If Ireland wasn’t a part of the euro currency in 2009, we possibly could have faced the same fate as Iceland.

7. The Lisbon Treaty gives Ireland (and other countries) opt-out clauses on certain matters. In Ireland’s case, we can opt-out of taxation and military defence directives.

8. The Charter of Fundamental Rights will be enshrined in EU law. This will ensure that all future EU laws are drafted to the highest moral and social standards. This will place the EU as the world leader in this area.

9. National parliaments (i.e. the Irish Dáil and Seanad) will now have 8 weeks to review and scrutinise all proposed EU legislation. A simple majority of national parliaments can scupper a legislative proposal from the commission without any further procedure should they so wish.

10. The Lisbon Treaty allows for the setup of a European Defence Agency. This will allow the EU to intervene in international crisis so that past atrocities in recent times are not repeated (e.g. the genocides in Srebrenica and Rwanda). If Ireland does not wish participate in certain missions because it feels that it may impinge on our neutrality, we have the option to opt-out.

11. A European Culture and Heritage Clause in Lisbon recognizes the influence of Judaeo-Christian tradition on EU laws and procedures. With Western Europes growing Islamic migrant populations, this clause gives legal security against the push for Sharia Law in some mixed-culture states.

12. Enhanced co-operation. This feature allows groups of countries within the EU to proceed with policies that other countries do not wish to participate in (e.g. tax harmonisation).

13. A new citizens’ petition clause in the Lisbon Treaty enables citizens’ groups across Europe to collect 1 million signatures to allow it force a bill efore the EU Parliament.

The Lisbon Treaty offers us a more efficient, transparent and democratic EU.

Please vote YES on 2nd October!