80s revival hits hard as Ireland is cast as Latin America
€1 slashed off the minimum wage, VAT hike, 25,000 more jobs to go (a warning to any unions thinking of negotiating orderly cuts with governments), 10% from pensions and benefits, the lower paid to be brought into income taxation. Costing families €3000 while cutting their income.
But Ireland’s future must be secure because their corporation tax rate will stay low, right?
The absurd property bubble has popped and turns out to be made of semtex not soap. The bondholders / investors / the rich still aren’t facing any writedowns or “structural adjustment”. No politicians will act against them, because they are owned by them. There is no “national interest”, only rich versus the poor.
The IMF is in Dublin. How long before Europe’s first IMF riot? (At least since Prague) (Which we won, remember…)