Douglas Carswell's Blog

Ireland - a step closer to decouple and default?

The collapse of the Irish government this afternoon is an opportunity to elect a government in Dublin prepared to put the interests of the Irish people ahead of membership of the Euro club. 

Regardless of who wins the coming election, mathematics suggests Ireland will default on her debts.  The precedent of Argentina suggests she should also exit the Eurozone.  The issue to be determined at the polls is how much more good money is still to be thrown after the bad in an effort to fend off the inevitable.    

Membership of the Euro, coupled with the reckless decision to transfer private banks debts onto the public balance sheet, have had catastrophic consequences for a once prosperous people.  (Note how Iceland is starting to bounce back.)

Ireland now has the chance not only to ditch Biffo Cowen and his budget, but to default on the debts and exit the Euro. 

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