Austerity is the only solution

Hawkeye123

The late great CJ Haughy was correct in his address to the nation. "As a nation we are living away beyond our means." How little has changed. The celtic tiger economy inherited a 30 billion punt national debt from the 1980s but rather than pay it off when we had the money - Bertie Ahern decided to spend the wealth of the nation on the salaries of the civil service (of whom he was one). Furthermore, he failed to embark on a mass privatization of all the state run white elephants when they were worth a premium - shame on him. Conversely and perversely, he created quango after quango.

That said, it is never too late to do the right thing. We must now flog everything the state owns for whatever the market will bare and we must remove obstacles to the slashing of public sector pay. In the final analysis, where there is a will there is always a way. If a referendum must be held to allow for the introduction of laws which can be backdated in order to over-rule union brokered pay agreements and to bring charges of economic treason against certain individuals - then so be it. Those found guilty should be allowed to choose between repatriating their offshore assets and surrendering every ill-gotten gain or if they prefer - they could choose 12 hours of water boarding per day until they change their minds and decide to co-opperate.

Trade union properties should be seized and sold by the state to compensate tax payers for any loss of money, service and anything else arising as a result of union activity.

Those who default on their mortgages should have whatever they have paid to date classed as rent payments and they should lose all equity in the bank`s house. Alternatively, they should be evicted and told go rent or buy in a ghost estate instead - they would soon be joined by hoards of other defaulters. Why should first time buyers have to pay over the odds for a house when those stupid people who signed the dotted line and agreed to pay their mortgages are allowed to default with impunity. It is time we faced up to reality and our individual and collective responsibility. We borrowed, we signed the dotted line and now we must pay it back as agreed.

If we cut spending by 30 to 40 billion per year we wont need to borrow. We will be able to build schools/roads and invest in renewable energy and wave energy research. The savings are easy to make, simply tell everyone in education and health they are getting 100% pay cuts. If they dont like it they can quit and go on the dole in which case they dont get any redundancy as that is based on what they are earning. Of course, it would be necessary to keep the Army and Gardai onside, as-well as the fire brigade, dole office and revenue staff.

As for the banks, they should be re-privatized and told to look after their own affairs. If they threaten to withhold money from depositors the state could refuse to prosecute or facilitate the prosecution of mortgage defaulters to the banks and the mortgage payments should be aquisitioned to pay depositors their money with interest and also to fund the launch of 6 new banks which could be privatized within weeks of their launch with a float of 2 billion a piece. This could be done through the post office network.

ilovesleep

You do know this is ireland? Austerity is only for us and not for politicians, bankers, and developers. At all costs they must get celtic tiger rewards while we are forced to pick up their bills.

JBnaglfar

Hawkeye123 wrote: »

If we cut spending by 30 to 40 billion per year we wont need to borrow. We will be able to build schools/roads and invest in renewable energy and wave energy research. The savings are easy to make, simply tell everyone in education and health they are getting 100% pay cuts. If they dont like it they can quit and go on the dole in which case they dont get any redundancy as that is based on what they are earning. Of course, it would be necessary to keep the Army and Gardai onside, as-well as the fire brigade, dole office and revenue staff.

You're kidding, right?

JBnaglfar

Also, blanket privatisation of state assets is not not necessarily a good idea, just look at eircom and the mess that is our broadband infrastructure.