The Irish government got the outcome they wanted, a yes vote. While many of us are of the opinion that it was insane to sign up to a law that allows the Irish government to commit the country to some extremely strict and negative fiscal policies that are not yet clear, or, if actual policies will be in the shape or form outlined in the referendum propaganda.
So, what’s the good news about this? It is that now, the Irish government cannot blame the No-side for the continued sliding into debt and unemployment.
Some people wish for a Punt Nua, a reincarnated version of the Irish Punt, while others argue strongly against this and prefer to keep the Euro. With the current state of the Irish economy, switching to a national currency would send Ireland into a financial free-fall. It would work fine for buying and selling Irish stuff within the country. Exports would probably increase. You would also find that with 100 Punt Nua, you’ll get 15 Pounds Sterling when you visit Britain, 10 Euro if you go to France or Germany. With your 100 Punt Nua, you may get US$20 if you go to the USA. Your almost-for-free-while-we-rip-you-off Ryanair ticket would probably cost 500 Punt Nua, and that’s just to get you to Stanstead.
If we can stay in the Euro-zone, Germany needs to face up to reality and support closing down the defunct banks, without hitting the ordinary Irish tax payer, and bringing corrupt and greedy developers, bankers and politicians to justice. Real justice. All of this while injecting fresh investment in companies that make things, not only retail or perhaps the worst of all: import/export (which, to me, means money laundering). It is only by making things that we can work our way forward.
Mikael Fernstrom 