The Mudcat Café TM
Thread #114721   Message #2451987
Posted By: Thompson
28-Sep-08 - 04:29 AM
Thread Name: Lyr Req: Icelandic lullaby
Subject: RE: Lyr Req: Icelandic lullaby
I might mention that being in the euro hasn't helped Ireland to avoid the worst recession in Europe, Skarpi, as the multinationals feck off with themselves to places where people work for a tenth our wages.

Worse still, being in the euro - or rather, being under the control of the European Central Bank - has meant that a profit-crazy housing boom couldn't be controlled by the normal method of raising interest rates. Our interest rates were set by the ECB, which sets them for the whole of Europe.

Of course, our government should have used other methods to stop the spiralling house prices, but as a series of tribunals into corruption and bribery by builders have shown, many of those in government were in the pay of property developers.

Now the citizens who pay these politicians €100,000 a year basic wage, plus benefits and perks, are seeing the fruits of electing these corrupt swine.

Sorry, sorry, I'll calm down.