The EU, the bailout and our next government .

Drumpot

I see the French leader is rumbling on about our low corporation tax and pretty much saying we cant have everything our own way . . Well I have news for him and our would be new government, we havent actually had anything our way yet. .

Before I go on, from what I hear, corporation tax isnt actually that big an issue (if we raised it) , because there are plenty of other loopholes for companies to exploit in tax incentives, but that isnt the point. This thread is about us finally defending ourselves against what I see to be an act of intimidation towards us. Of course we lost some of our independance through the bailout, but it doesnt mean we sit down and take everything thrown at us!

I have to say, I am completely disgusted at the way in which FF poorly negotiated the ridiculous terms of our bailout. I think we are lacking a bully styled negotiator in the mould of our favourate Ryanair bigwig, to basically throw the toys out of the pram and call the bluff of our EU "friends".

Ok, so Sarkozy thinks that we have gotten this nice bailout and should be greatful by doing things that are actually counter productive to getting us out of this mess longterm. I see no credible factual value shown to raising corporation tax in direct relation to how it will effect existing and future companies investing in this country (or making us a hub). If we dont have investment in Ireland, we cant pay the ridiculous interest we are being charged on the bailout, let alone pay it back.

Then there is the whole idea that the EU did us ANY favours in the bailout. In truth, as an independant entity going our own way, we would of been much better off burning the bondholders and using the IMF (who wouldnt of cared what corporation tax we charged) which would of given us alot more freedom to make fairer decisions in the best interest of our people (as opposed to the greater good of the EU).

And then theres the pink elephant that our EU counterparts never ever ever like to discuss. The fact that the bailout we are paying for benefits them nearly as much as it benefits us. Forget the value of the Euro if an EU member state defaults or the longer term ramifications for the EU, Im talking about the German (in particular) investors and institutions that would take a huge hit on Ireland defaulting/collapsing.

The bailout that we took was not just for ourselves but also for the rest of Europe. Im not saying that we should get a pat on the back or that we shouldnt have to pay for our sins, but we are significantly paying for the gambles that other countries people took on our growth economy aswell.

I feel that our next government has to have a hard kneck and be prepared to upset our EU friends if it is in the Irish Interest. At the Bailout agreement, we got nothing and I think we had a strong bluff poker hand to use, which was lamely sold for the corporation tax issue.

If I felt that Kenny and Gilemore were competently going to be able to be aggresive negotiators for Irelands best interests, I would be out on the streets demanding people vote for them. In this absence I would ask Boardies to make this an integral part of who they vote for an most importantly let your candidates know that you dont want Ireland to be an EU Raggy doll anymore.

I dont mind Ireland paying for its sins, but when we are paying for investors/gamblers sins aswell, there has to a point where we stop beating ourselves up and say "wait a minute, we shouldnt have to pay for everybody elses mistakes aswell"!.The fact that cheap money , by being part of the EU, was a major cause to our bubble, is to a degree an EU fault in some part aswell. Many speak of moral hazzard in terms of how our banks lent money, the same can be applied to the ECB's approach to lending to Irish Banks.

I think being a part of the EU is important for the future stability and future prosperity of this country (if nothing else being a hub for US firms looking to do business in the EU!), but I dont think we should bend over whenever Paris or Berlin start mouthing off. If Gilemore is as good (I doubt it) at negotiating as he is at attacking FF, we will be fine. Alas, I fear he is all bark and no bite. Everybody needs to demand more balls from our politicians in dealing with the EU. Ironically enough, while I wouldnt trust Kenny to negotiate 10c off a TV in Harvey Normans, I reckon he would be goot at picking out a better negotiator to act on our behalf!