I’m trying to get this clear; to distill all the vast press comment into a few simple premises. As far as I can see, it comes down to this:
A) The Irish mistook the euro for a gravy train, but of course that particular train is permanently stuck in Brussels.
B) They set a low corporation tax, thus attracting many companies out of the UK and elsewhere.
C) This rush of FDI into Ireland goes to their head and creates a credit and property bubble. They mightily enjoyed this binge and the title of Celtic Tigers until the train hit the buffers.
D) Now the chickens have come home to roost they teter on the edge of bankruptcy
E) They now need bailing out by the same competitors they stuffed with their low taxes
F) Labour signed up to this bailout AFTER losing the last election and before the new British government had been formed.
G) The Bruxellian Empire would love Ireland to ask for a bailout so that the former can encircle the Irish throat in its mighty steel pincers and – for a start – oblige it to up its corporation tax.
Yup – Alice would have felt quite at home among all this lot.
The ultimate goal for Bruxelles is of course the harmonisation (upwards) of all European taxes and is but one step along the road to the United States of Europe they slaver about. They are about to increase our taxes to pay for the USE Diplomatic Service, so it is a small step to creating the European Finance Ministry. Still, there is one consolation – we would no longer be stuck with a moron running the UK finances as in the last 13 years of Labour. And even if we were, EVERYONE ELSE would be stuck with the SAME moron, as he or she would be based in Frankfurt or Brussels. At least the moronicity would be shared out equally!