I’m not going to say that I know an awful lot about the world of finance. Nor would I even say I know an awful lot about the world of politics (although I know enough to hold my own in a conversation). But what I think I do know about, and what most of us intrinsically know, is what fairness is.
Sure, there might be certain minute details that need to be ironed out in some cases, as to what is fair and what is not, but if you take into account the following details, we all should come to the same conclusion about what is fair.
This banking problem that we have in Europe, is indeed, a European problem. The whole idea behind the European experiment/adventure, is that Europe shall exist as a whole, as one unity. That the sum of its parts shall be greater that the individual pieces. Such was the idea.
- Ireland makes up 0.9 percent of the EU population
- The Irish economy makes up 1.2 percent of EU GDP
Ok, we’re small. So how much of the entire European banking debt have we paid?
- The Irish people have paid 42 percent of the total cost of the European banking crisis
The European banking crisis to date has cost every individual in Ireland nearly €9,000 each. The average throughout the EU is €192 per capita. I really don’t know what you can say after that.
There isn’t much to be said, is there! The Irish people have taken the burden of this crisis, THROUGH NO FAULT OF OUR OWN (by this I mean the Irish people and not those at the highest level who were partially responsible for this along with others of the same level from other European countries). If we put this to the ‘fairness test’ I’m sure you can that, fair it is not.
I am a fan of Europe. I like the idea behind the great experiment, but if our nation is to become the whipping boy so that the experiment can continue, then I think that the ethos and spirit in which the EU was started in the first place has been well and truly destroyed.