For some reason, we don't seem to have a thread exclusively about Ireland, though many of its issues have come up in relation to other events.
The nature of their financial collapse has a special character: a high confidence in Ireland's booming industries which proved to be a bubble around 2008, especially in the housing construction business. The explosion of the bubble led the government to take over all private/bank debts, following IMF advice to the letter. And they continue to listen to the IMF as they impose one of the harshest austerity programs in Europe..
But there is some hope, at least for democracy. And that again seems to be quite unique in Europe. The Irish are today voting on new EU help. Banks are asking for another 4 billion euros from Europe, which will undoubtedly further cripple the State. But only Sinn Fein is against. According to predictions, 49-60% of Irish will vote in favor.
http://www.channelnewsasia.com/stories/afp...1204730/1/.htmlThis raises some questions. Firstly, why does Europe let them, without Merkel threatening the sky will come down if they vote? Perhaps they knew the Irish would vote in favor (though I can't see how they could bet that)? Second, why do the estimations show a pro-vote? How is the question framed? What is the analysis in Ireland about EU intervention? Clearly, the crisis and its resolution, although relatively similar in character, show themselves differently in each place.
