Anonymous asked in TravelIrelandOther - Ireland · 10 years ago

What will happen to Ireland if it accepts a Euro bailout of the country?

What will be the affect, will Ireland lose sovreignity

4 Answers

  • 10 years ago
    Favorite Answer

    Hard to know exactly, that depends on what deal is worked out and what the rules are. Possibly we'd see the EU and IMF in charge of our econmic policy. The EU may want us to increase our corporation tax in line with other EU states (all others except Bulgaria have higher corporation tax rates, we're 12.5% as far as I know, Bulgaria are 10%) Public service pay and numbers may be cut, social welfare/pensions may be cut, general taxes may be increased. This is all above and beyond the cuts that our own dipsh*t government would do. We would in effect lose economic sovereignty potentially for decades.

    Thing is that right now as things stand we don't need a bailout, the State is funded through to about May 2011 and after that we have over 20 billion in the pension reserve fund which could be dipped into as a last resort (but probably best not to touch that) We can return to the markets in May 2011 and if interest rates are still too high then we can go to the EU and IMF or the IMF alone and ask for a bailout - simple fact is we don't need a bailout now. A bailout at this moment in time is better for some other EU states but not in Irelands best interest. But then when have this government ever stood up for what is in Irelands best interest.

    There is a lack of liquidity (lack of money) in the Irish banks but we don't need a bailout for that, that can be dealt with through the ECB (European Central Bank) as we are in the euro they are now our central bank.

  • Anonymous
    10 years ago

    Even if its accepted - its only going to be a short term solution - What business's will want to invest and enter a country that can't stabilise its own economy without foreign help?

  • Anonymous
    10 years ago

    We will be hated by the rest of Europe.

    They cannot make us take this handout but it is most likely what will happen to save the euro.

  • Eire7
    Lv 7
    10 years ago

    Our country is f**kd thanks to the government and banks!should never have joined europe and kept our identity

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