Banish the sovereignty blues. You’ve got old friends

Hey, Irish, cheer up. There’s no necessary correlation between wellbeing and financial crisis. Yous’ns is not the only ones to have been visited upon by the IMF. Remember UK 1976?  How can I ever forget it?  And that was over “only” a $4 billion loan ( at 1976 prices ) and was never actually drawn upon. Years later they made a remarkable discovery.

An index of economic, social and environmental progress yesterday declared 1976 to be the best on record for quality of life in Britain.

So scoff not at David Cameron arguing for  a “well being index” to replace the obsession with GDP. There are worse fates than the IMF. Who knows, it all may turn out to be a nightmare from which we’ll all wake up one day. Or magicked away, as John Waters seems rather uncharacteristically to hope for, with that wonderful anecdote about the $100 round in the hotel.

Ok, so this is mainly a bit of escapism. But there is a real point here too. Don’t fall for too much neurotic “shame” over  “loss of sovereignty”. Remember that it’s a crucial  part of the intensifying party battle  and that we are all interdependent now . Remember too that the Brits were there before you in an era of rocketing inflation – and survived.

Wasn’t it heart warning to see the near-universal support on the BBC last night for the UK’s (albeit modest) contribution to the Irish bailout? The rotweilers of the Question Time audience spoke in favour while reserving their ire for all bankers everywhere. And on This Week, host Andrew Neil and sofa man Michael Portillo agreed. A British contribution was merited, yes because trade with Ireland exceeded that with all the BRICs combined –(though a poor comment on the state of Britain’s export drive). But there was more to it than impersonal trade stats. Together they nodded in harmony. Although an independent state for generations, and different currencies notwithstanding, Ireland’s links with Britain were so close that they still amounted to a domestic relationship.

So you can have your sovereignty cake and eat it.

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  • Brian, ‘never had it so good’ man has just quit!! That well being tonic can be dicey!!

  • HeinzGuderian

    I’m afraid whistling in the dark,won’t help the utter shambles that is the Eire ecnomy !! Isn’t it time this failed state,rejoined the fold of our Glorious Empire ?? 😉

  • Greenflag

    Forget the IMF and the ECB . China has 2.6 trillion dollars in reserves . This could be China’s big opportunity to play a leading role in the world economy and provide a counterweight to the disappearing dollar -the unstable euro and an overvalued pound ?

    Why not sell or even donate Anglo Irish to the Chinese . They could even call it the eh CIA bank ?

  • “sell or even donate Anglo Irish”

    I thought you have opted for a Chinese take-away, Greenflag.

  • Brian Walker

    I wouldn’t count on China obliging. Just think of the mammoth catch-up the Chinese have to perform one day in their domestic economy

  • Nordie Northsider

    We have indeed got old friends: Bob Dylan has just released a protest song about the cheese rationing:

  • Greenflag

    Apologies BW & Nevin- The above comment was supposed to be tongue in cheek -on the other hand did I not read something a while back about the Chinese bearing gifts to the Greeks ?

    What we call ‘democracy’ in the West is now in the hands of our present day Praetorian Guard -the Banks and their overseers the IMF, ECB and the USA Federal Reserve . Our Senates and Parliaments have been eviscerated of their powers to do anything to rein in the ‘lunacy’ that was let loose when the powers that were in the US Senate and Congress decided two decades ago that the banks could be trusted to behave themselves and would help economies to grow if only they were less regulated .:(

  • Alias

    “Wasn’t it heart warning to see the near-universal support on the BBC last night for the UK’s (albeit modest) contribution to the Irish bailout?”

    Considering that Irish banks owe circa 220 billion to British banks, it makes sense for the UK to ensure that the Irish state can to underwrite those external debts by converting them into sovereign debts at the direct expense of the Irish nation. It’s as kind as a heroin dealer lending you the money to make your next payment to him.

    And losing your sovereignty to the EU is like losing your virginity: you will never get it back.

  • pippakin


    The difference is: You bitterly resent the loss of one and can’t get rid of the other fast enough.

  • Greenflag

    Nevin ,

    My taste in fast food has always been basic – Fish and Chips and ONLY from purveyors with monikers like Macari, Angelos, Bruschett, Berlusconi’s etc . I’ll make a slight exception for Beshoff’s (of Russian antecedence ) in O’Connell St .:)

    I did on one occassion pay a visit to an former Italian/Irish Italian famed for it’s fish and chips only to discover that the new owners were of some indeterminate south eastern European provenance . But hey fish and chips (seeing as it is Friday) is not rocket science so I purchased the goods and took them home .

    Two words – and I knew when the blasted cat turned up it’s nose at the piece I offered .

    Never again 🙁

  • Greenflag

    Did’nt King Richard the Lionheart hang the bankers back in the 13th century ? And did they not erect a fine equestrian monument to him outside Parliament in London ?

    I imagine there must be many people in both Britain and Ireland and elsewhere who might like to emulate KIng Richard’s cure all 😉 ?

  • pippakin


    I would think if such a thing were put to the vote the result would be an overwhelming.majority in favour.

  • Greenflag

    Virginity is not a prized commodity in the EU . Perhaps in downtown Riyadh or in some of the stone throwing circles of Iran and the Middle East . I prefer the EU for all it’s seeming contradictions to Saudi Arabian throwrocksacy and choppedhandsacy for those who steal .

    But I’ll admit that I could well tolerate for a limited period only importing the Saudi methodology for dealing with the pin striped suited banking bastards a la Fitzpatrick , Drumm , Fingleton and numerous others for whom hanging would be too good !

  • pippakin



  • Greenflag

    Projected hanging referendum result from the Department of Future Bail Outs ;)?

    All in favour

    3, 456, 201


    2,541 (includes all Dail & Senate politicians , bankers and families , property developers and associated hanger ons .

    I make that a 99.926% vote in favour of hang the b******s-which is an overwhelmingly overwhelming majority . Now we just need to establish a political party that would have as it’s manifesto the eh desired outcome as suggested above 🙂

  • pippakin


    I don’t think there would be much of a problem there.

    Watching Labour verbally whipping FF on Prime Time last night was a real pleasure, and I notice segments have been repeated on tv since.

    The anger is real enough and the fact it is so rarely expressed only makes it worse!


  • Greenflag

    ‘Watching Labour verbally whipping FF on Prime Time last night was a real pleasure, and I notice segments have been repeated on tv since.’

    Flogging a dead horse may provide muscular exercise for the limbs involved, but is a negative in the overall, other than perhaps the publick pilloring of the government party .

    Pat Carey is one of the more decent eggs in FF . He had to stand in for those who were in ‘conclave’ with the IMF/ECB taskmasters and appointed representatives of the international bond markets

    Any pleasure in the pilloring on my part was reduced by the awful thought that had we (ROI) had a coalition of FG and Labour for the past decade would we in any different state today ? The answer that immediately sprung to mind was No and maybe even worse 🙁

    Perhaps that’s the reason why the ‘anger ‘ is so rarely expressed . Not only did we not have a government but neither did we have an opposition either 🙁 There are no votes in telling the gravy swilling passengers on board the good ship instant prosperity that the eh ‘swilling’ is being overdone and that some moderation is required .
    I believe the former USA Federal Reserve Chairman -Alan Greenspan did at an earlier stage in this crisis accuse the lemmings of too much exuberance in their irrationalism and we saw how much they took notice of his words .

    It’s at times like this that I recall Jack Lynch’s words ‘Crisis what crisis ‘ ?

    But as it’s Friday and before we are written off or yellow carded as latent lynch mob fanatics it’s perhaps timely to introduce perspective and balance into above events real or imaginary. . And on that note this week will surely go down in history as one of the blackest in the state’s history .

    First we had the defeat by the oil rich non EU Norwegians at the soccer and that was followed by the abrasive stepping on our sovereign toes by the pin striped infamous gougers and thugs of the EU and IMF, and tomorrow we face another possible humiliation by the All Blacks at the Aviva Stadium 🙁

    It never rains but it pours 🙂

  • pippakin


    As a Labour supporter I was naturally pleased to see Rabbit doing well, but I must admit the pleasure would have been greater if one of the real culprits in FF had been there to take responsibility.

    Did you see the ad for the rugby: this is our land? not any more its not…and the game aint over til its over, surely its our turn to win one?

  • Rory Carr

    Who cares if we’re jobless, homeless, prices rising, health care and social wefare deteriorating just so long as Lord Young’s dining pals can congratulate each other over the port and cigars with how well they are all now doing what with saving half a grand a month (at least) on mortgage repayments and don’t forget that we all have a big wedding to look forward to next year – that’s if Katie Price can get her act together in time.

    I’m so feckin’ happy for them all I could die (and lots probably will do just that).

  • pippakin

    Rory Carr

    Young has gone to join his peers.

    It gave a rare insight into the mindset of the Cameron circle. Not a pretty sight but one I feel sure we will all become used to. It will teach the English a lesson for voting for them, and it will embarrass and annoy the libdems who could also do with a few lessons.

  • Young was making a reference to the 90% + part of the population that have not YET been affected by the consequences of Britain’s debt crisis. However, the spending cuts, tax increases and benefit cuts have not yet kicked in. He was completely out of order.

  • Alias

    “The difference is: You bitterly resent the loss of one and can’t get rid of the other fast enough.” – Pippy

    True, I guess. But the disadvantage of not being from Mayo is that you don’t lose your virginity to a relative in your formative years.

    Now rather than speculate on my sex life (or absence of), why don’t you try to adress the point, muppet, and give an example of where sovereignty has been reclaimed from the EU after it has been transferred?

    Of course, you can’t do that because there is no example.

  • pippakin


    ” True, I guess. But the disadvantage of not being from Mayo is that you don’t lose your virginity to a relative in your formative years.”

    That is an outrageous thing to say! apart from being untrue you just labelled an entire country as victims and perpetrators of child abuse! what were you thinking, don’t answer that I don’t want to know.

    I did not mention and have no interest in your sex life, my comment contained my opinion on the loss of sovereignty and since you raised the subject the loss of virginity. .

    If you thought you were being clever let me tell you you were not.

    I would rather you did not reply to this comment since I have no interest in anything else you have to say.

  • Mick Fealty

    Alan, if you insist on indulging your Gerry obsession in the wrong place it will be a yellow for you me boy!