Posted by Telegram from Innisfree on February 29th, 2012 (All posts by Telegram from Innisfree)
So in today’s continuing Eurodrama, Fianna Fail deputy leader Eamon O Cuiv had to step down due to his refusal to support the Fiscal Treaty. Interesting, especially as Fianna Fail is due to start its annual party conference (the “Ard Fheis”) on Friday. Will the grandson of Eamon de Valera lead the way to a new Irish euroskepticism?
Meanwhile, The Independent points out in an editorial today that on March 31, Ireland will have to pay another €3.1 billion on its ongoing €30 billion bailout of Anglo-Irish bank. For a country with a GDP of somewhere around $200 billion, that’s not chump change. Indeed, there are rumblings of the government will have to cook up what is called here a “mini-budget” (a budget revision) the summer involving more cuts, although (hopefully) no new taxes.
For leading parties Fine Gael and Labour to succeed, they will have to try to forestall the mini-budget until after the referendum. How they will managed to wrench out a Yes vote from this will be, um, interesting. And why, yes, I do mean that in the Chinese sense.