Fine Gael can throw their toys out of the pram as much as they want but the EU will not just lower the interest rate on the “bailout” loan.
Enda Kenny and his government can make promises to the Irish people as much as they want but the EU has no reason to lower the interest rate on this 85 billion euro bailout (which is not a bailout for Ireland but that’s a different story). I won’t go into the details and mechanics of this as everyone is sick to the back teeth with this. The points are these:
- Ireland is only a small fish in the big EU pond.
- The EU has NOT A SINGLE INCENTIVE to lower the interest rate.
- Quid Pro Quo. You gotta give before you take. The only thing we have to give is our corporate tax rate. #fact
- The EU can tell Ireland to bugger off and then go on and bleed us dry for decades.
WE WILL NOT GET A DISCOUNT ON THE INTEREST RATE WITHOUT RAISING CORPORATE TAX.
The EU is not run by amateurs. It’s run by people a lot smarter and powerful than the collective Irish government. We can’t honestly expect them to reduce the interest rate AND let us keep our corporate tax rate. The current government can keep saying that they won’t accept that but that’s acting like the well known knight in Monty Python’s Holy Grail.
There is only one thing to do for the Irish government; they need to walk into the meeting room in Brussels and demand a restructuring of the loan, a debts for equity swap and a possible federalisation of the “bail-out” loan. Only a complete rejection of the terms and condition will have any effect at this stage.