FT: ‘Ireland must vote for an end to its humiliation in Europe’
Not sure we really have a choice – and/or it really matters if we vote yes.
But it does highlight the underlying fallacy:
“Austerity does not work when applied over four or more years to countries that do not have sovereignty over monetary policy, that endure broken banking systems, whose households are in the grip of a severe economic shock and whose neighbouring economies are also weak. Ireland, Spain, Greece, Portugal and possibly even France are examples.”
Irrespective of Ireland ….
” ….. the crisis is by no means over. As John Maynard Keynes argued in The Economic Consequences of the Peace, the acts that apparently brought closure to one crisis sowed the seeds of greater economic, social and political turmoil.”