Today The EU tried to downplay bailout talks with the Irish government of nothing to worry about
With Ireland joining the growing list of EU countries facing hard times joining Greece, Spain, Portugal and Italy this is worrying times for the European Union.
What was set up on a wave of optimism with alot of the founding members doing well to start with since the economic down turn alot of these countries who cant independantly control their own currency or devalue it in any way are left in some rather difficult situations.
Ireland for example of which the posted link refers to has under gone round after round of deficit cuts. Something which our own Chancellor of the United Kingdom George Osbourne admired and priased lavishly a few years back now.
He saw them as a beacon and a example to follow. Well now Mr Osbourne lets look where Ireland stand now. On the brink of defaulting on their repayments and crippling debt. Ireland seem to be on the slide rather than picking up. With high unemployment in the Republic and little prospect for new job creation their economy seems to be stalling.
With the Uk looking like we'll step in and help with a big bailout of ireland is this really the route George Osbourne really wants to be taking the Uk down ?
With huge cuts cuts mass unemployment. As ireland have found out cuts dont create growth and growth leads back to recession.
George Osbourne has gone ratehr quiet on ireland and matters of this since these news stories ahve been coming out. Perhaps he is turning a blind eye to it and hoping our cuts over here will be alright. Well let me tell you they wont. They are the biggest peace time public sector cuts since the 30's back when you guessed it we cut too harda nd far too deep and found oursleves trapped in a depression for many years.
I do hope ireland pull through this but it is nothing new and i can only see things getting worse there before better.