Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Default is about re-establishing that Ireland, not ECB or the money-markets, decides social policy in Ireland. If the irish voters and the irish politicians can get this and still want to keep the loan/debt solution, fine by me. But as it stands, the common wisdom appears to be debt-> loan from ECB-> must accept austerity.  So debt is one of the points to attack, another is the way ECB has taken it upon itself to run the social policy of memberstates.

Then again, I have nothing against default per se either. The lenders after all gets payed for interest for taking that risk. And I see nothing wrong in deciding to protect those that Ireland deems more in need of protecting while performing such a default.

Politics is about choices, shock doctrine is all about denying any choice except dramatic cuts for those worse off and privatising assets to those best off. And then rushing it through. What we do here is largely to constantly formulating choices in the hope that it gets read and used.

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by A swedish kind of death on Fri Feb 4th, 2011 at 03:18:06 PM EST
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