Yes vote to fiscal compact could well prove fatal | Eamon Devoy

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Yes vote to fiscal compact could well prove fatal | Eamon Devoy

Strong piece here from Eamon Devoy, general secretary of the Technical, Engineering and Electrical Union advocating a No vote in the Austerity Treaty.

Once austerity begins to bite in the euro zone core, the Merkozy strategy will implode economically and politically. The problem is how best we can survive until that happens.

Advocates of the fiscal treaty may be right in arguing for economic convergence in the long term if the euro is to remain a major international currency, but as far as Ireland is concerned the present strategy is redolent of British policy during the Famine. Having identified the fundamental problem as being too many people trying to scrape a living off the land, the British government decided to eradicate them.

Markets must be made subservient to the populations they are supposed to serve, not the other way around. Yet blind faith in those markets is still alive and thriving among the governing elites of Europe, despite two world wars and the Great Depression. We have no problem with these people wishing to self-destruct but we do not intend to be dragged down with them.

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Donagh is the editor of Irish Left Review. Contact Donagh through email: