More Sweet Irish Defiance
The bureaucrats in Brussels, as I noted in an earlier post, are pushing the Irish to accept a bailout. The Irish response? For now, at least, they're pushing right back, insisting that they can sort out their troubles on their own.
I myself find this thrilling--just thrilling. A great people, the Irish have chosen to demonstrate not just the old, wonderfully lyrical approach to life but practicality, determination, and a mastery of free markets. For a beautiful summary of what the Irish are thinking, take a look at the opinion piece that Irishman Oliver O'Connor, a former advisor to the Irish government, published last week in the Wall Street Journal:
Some recent headlines and commentary seem to suggest that the Irish economy has all but collapsed. It hasn't, and it doesn't have to...
Irish people now have a...track record of innovating, marketing, selling, manufacturing, raising capital, and making deals in a range and depth of global markets than they ever have before...
Go hat in hand to Brussels? Seek dependency?
The crash did happen, but Ireland's economy still has a pulse, at least as strong as many of its larger partners around the world. Its debts are massive, but manageable—no one has proven yet that they are not.
This is a playable hand. The financial engineering required to restore the Irish budget to health is doable, and is being done. Now, it's over to the political engineering, whose highest achievement would be to let the Irish people do what they do best: adjust and thrive.
Irish history has its glorious moments. We could be witnessing another.
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Comments :
May '10
Re: More Sweet Irish Defiance
Oliver O'Connor, a former advisor to the Irish government:
Wonderful quote. There was time when much the same could have been said of the American people. I would hope that it still could be said. And the challenge to our own "political engineers" is exactly the same, but I fear that they will never realize it.
Obama and friends seem to be eager to emulate the Europeans, but I expect they will follow the examples from Brussels rather than Dublin.
As you said Peter, a glorious moment.
Oct '10
Re: More Sweet Irish Defiance
The bureaucrats in Brussels subscribe to the "never let a good crisis go to waste" philosophy. The Irish are used to having to deal with distant "overlords", and are not taking the EU's bailout bait, which would inevitably diminish what is left of their national sovreignty. Good for them. Too bad they signed on to the deal in the first place
Aug '10
Re: More Sweet Irish Defiance
Peter
Didnt the Irish balk at the EU constitution but were steamrolled at the last minute ?
What's different here ?
We can't even stop The Bernanke from The printing of the money for The Goldman Sachs to sell the The Bonds to the The Treasury ?
Sorry, animated robo bears haunt me.
Aug '10
Re: More Sweet Irish Defiance
It's all very flattering but you give us too much credit.We have developed a European-style entitlement culture and have about 50% of workers paying no income tax. There was little or no discipline during the boom-years and those doing the most complaining about our current troubles were equally agitated about too little spending just 3 years ago. And we know how hard it is to take away an entitlement once it's given. All that said,I believe there's a bit of the Tea Party spirit about,in spite of the bad press that movement gets here. Moreover, Brand Ireland is still a bestseller and we now have a much-improved infrastructure to show for the good years.You should all come and check it out- bring your golf clubs, why don't you? And if I see you around we might have a chat about Peter's idea for an Anglospheric Alliance.
Oct '10
Re: More Sweet Irish Defiance
It's nice to see some countries in Europe willing to fix their economy without help from the EU. I think this says a lot about the Irish people and shows a vast difference between Ireland and the Mediterranean.
May '10
Re: More Sweet Irish Defiance
Over at Pajamas, Richard Fernandez scans the various comments on the Irish "resistance" and find things looking gloomy. The feeling is that the Irish, indeed all of Europe, is in too deep to get out now. As things worsen the only fallback will be rigid controls. The columnist from the Telegraph uses the term "complete sovietisation", a sobering thought.
It does sound as if a point of crisis, perhaps the first of several, is very close.
Fasten your seat belts, folks...