Sir, – John Waters (Opinion, March 9th) has accused “the block-like heads of European politicians” of indulging in a campaign of “public indoctrination” when they say that peripheral countries in the EU were at fault and must share some of the blame for their own bankruptcy.
Instead John Waters does a bit of public indoctrination himself. He blames what he calls “short-sighted journalism” for the fact that citizens of peripheral countries place the blame on their own leaders.
All I can say is that it was not the block-like heads of European politicians that took the initiative in Ireland to borrow more money than was wise. It was the heads of our own government, financial institutions, construction companies, etc.
If short-sighted journalism is to blame for anything it is for not sounding the alarm during the Celtic Tiger period as to the dangers of what was happening. – Yours, etc,
A chara, – The fiscal treaty is not the first attempt to promote budgetary discipline in Europe.
An earlier incarnation of the treaty’s aims, the Stability and Growth Pact, did not ensure that Europe’s economic heavyweights limited their budget deficits to 3 per cent of GDP as had been provided for. Nor did it prevent those states that consistently adhered to this rule, such as Ireland, from slipping into a debt crisis.
Irish voters are now being asked to endorse another initiative to control public deficits and debt. Spain, the euro zone’s fourth largest economy, has already signalled its reluctance to tackle its deficit with the ferocity the fiscal treaty demands (World News, March 3rd).
European regulations to control deficits were not adhered to in the past and early indications suggest that member states may be unwilling or unable to adhere to them in the future.
Even if they were to be obeyed, such regulations do nothing to prevent member states from taking on overwhelming debt burdens upon entering a recession, as Ireland’s experience has proven. – Is mise,
Sir, – Given that a few short weeks ago Minister for Transport Leo Varadkar publicly stated that he believed referendums to be “not very democratic”, can we now assume that he will not be campaigning in the upcoming treaty referendum? I would hate to think that one of our democratically elected representatives might compromise his principles! – Yours, etc,
Sir, – I have rarely read a more condescending article than that penned by Prof John O’Hagan in defence of the proposed European fiscal treaty (Opinion, March 8th).
By devoting at least half of his piece to a patient explanation of the rules of various ball games he manages to confine his defence of the treaty to a few last-minute banalities. Actually, we all already know that Germany’s population exceeds that of Ireland. Does that mean that we all roll over and play dead simply because Germany and France tell us to? – Yours, etc,