McKinsey estimates that the private debt of 4.6 million Irish amounts to approx 190 billion Euros. Placed in relation to income, their debt is higher than that of Spain , twice as high as in Greece and almost three times as high as in Italy.
Ireland will NEVER get out of their debts, with or without fiscal union, but is extremely depending on economic growth in the Euro zone and that France and Germany are not facing a new recession.
Sure, Germany is suffering, if the export is going down - but Ireland is incredibly deep in the s.....t.
In 2011, the deficit was approx. 10 percent. Therefore the budget gap in Ireland is bigger than in other crisis countries such as Greece, Portugal, Spain and Italy.
A yes vote would bring us nothing only more debts and an economic collapse, a NO vote would bring the message over to the ignoramuses in the government and to the financial circles in Europe
I get the attitude of some of the no side. I understand that people are pissed off. I can't abide the Shinners and their hypocritical populist bullshit, but I do get that a lot of people are annoyed. However, Irishmason, you still haven't provided an alternative. What happens if we vote no and need a 2nd bailout and can't get it? What then?