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Manhattan Diary by Cahir O'Doherty

Ireland on the edge

Posted on Monday, January 31, 2011 at 08:45 AM

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After a week of political upheavals the baby boomer generation that comprises most of our current government seem to think the worst is - or soon will be - over.

They predict that Civil War voting reflexes will kick in, as they always seem to before general elections, and calmer heads are probably anticipating a return to some kind of normalcy soon.

I'm not so sure. I think the experience of seeing the pillars of Irish society collapsing, one after another, may have a radicalizing effect on younger Irish voters.

First they witnessed the seemingly endless abuse crisis in the Catholic church, which exposed decades of unspeakable cruelty and abuse lurking just beneath the tourist board facade. Those revelations indicted Irish society from Independence to recent times. We were not who we said we were. We were not even close.

Then comes the country's profoundly shocking near total financial collapse. How could it have happened? The whole world lined up to tell us what we'd done wrong. Bill O'Reilly and his fellow travelers blamed socialism.

But O'Reilly has it backwards. It wasn't socialism, it wasn't high taxation or liberal government programs that harpooned Ireland's economy: it was unfettered capitalism that sunk the Celtic Tiger, ironically enough.

A new generation of the Irish have discovered that the free markets don't lift every boat or solve every social and political ill. They have learned that banking regulations are a good idea. They have learned that giving the nations car keys to fat cat bankers and property developers is an astonishingly stupid thing to do.

And now that those fat cats - and their cronies in government - have driven the nation into a deep ditch it's droll to note how those the former poster boys of capitalism and excess now suddenly see the point in spreading the wealth.

And when I say spreading the wealth, I mean the bill of course. Socialism becomes mightily attractive to our former wealth generators when it gives them a handy option to stick the Irish people with the bill. If you want to talk about socialism in Ireland these days then you should make it clear you're really talking about debt consolidation.

The most recent pillar to fall has been young Irish people's faith in their own political parties - and worse. That's why I suspect we're in for a roller coaster this February and through 2011.

A generation of committed and internet savvy young Irish people have reached maturity in a prosperous nation they had no reason to assume would collapse so decisively. Now they're furious about what's happened to their nation and I suspect they won't be fobbed off with emigrant wakes and tearful fare thee well's.

Losing your future to emigration is a terrific reality. So are the pay cuts that have begun to bight the nations pay checks. But losing the life you thought was yours is about as painful an experience as can be endured.

The Irish people are now in the position of paying for a decades long rip off they actually had very little part in. You don't have to be Nostradamus to recognize that somethings got to give.

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macausheen | Feb 02, 2011, 08:06 AM EST

I just have to remark on the posting by 'wounded knee'. This person is obviously a tortured soul either a native american or a wanna-be. Ireland did not 'import workers', but rather only allowed them to come in. Jobs are sure to be scarce the same as they are in some parts of America. I am umemployed with little hope of finding a job, though even some friends say there are jobs out there. Well, you find them, buddy. You are probably sitting tight in a nice comfortable job criticizing everyone from your sofa. Wait till you have to look for work. The same scenario is playing out in Ireland as here in America and because of its smaller size is more noticible nationwide. Go sing some more dream songs at wounded knee, jerk.

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Morninghours | Feb 02, 2011, 02:23 AM EST

Just like here in the U.S., it's capitalism for the tax payer but socialism for the banks and big businesses when they need a bailout.

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slainte39 | Feb 01, 2011, 11:57 PM EST

How is the politicians bailout of the big banks construed as socialism--to me it's just pure cronyism--giving both capitalism and socialism a black eye--and a lower form of evil. The old parties would have you believe they won't collaborate with SF because of their questionable past, but I think they are afraid of them for more modernistic reasons--like they wouldn't conform to the "good ole boys" club mentality.

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greensod | Feb 01, 2011, 08:53 PM EST

Rwnevnstr,How right you are.No accountability,But isint that because the masses are too lazy and greed stricken.

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Rwnevnstr | Feb 01, 2011, 05:08 PM EST

This is a huge misunderstanding of what true capitalism is about! Don't confuse CORPORATISM for capitalism. All of the world has been corrupted and abused by corporatism, and all of us would be much better served by true capitalism. Allow the corporations to go bankrupt, force the stakeholders to cover the losses, and refuse to permit our govts to take the people's money for their crimes. We have no right to bankrupt future generations for the corruption of the very few. Seize the assets of the criminals and restore honest money to the people. Its the only way.

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greensod | Feb 01, 2011, 01:54 PM EST

Pilib04,You are exactly correct.No more time for all the talking heads with their big ideas that caused this mess.The Irish people need to do the right thing and vote with their heads and not out of blind loyality to a crowd of windbags.Learn from Egypt and the courage of its people.Simply Vote Sein Fein, the talk will end and the process of getting Ireland back as a respected nation will begin.Proud, free and not slaves to the masters of Europe.Taking EU and IMF money will require a rewrite of shylock in the merchant of Venice.

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olovely | Feb 01, 2011, 12:50 PM EST

The country is 85 billion in the hole. Fixing the taps won't mean diddly squat, nor will deporting the few undocumented that remain. You're out of your depth feeneycj.

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feeneycj | Feb 01, 2011, 12:41 PM EST

Stop importing labor; add jobs to fix the infrastructure, water system and pipes; balance monetary controls; sustain and be optimistic Cahir. Ireland is a beautiful place.

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olovely | Feb 01, 2011, 12:36 PM EST

The European banks lent Ireland money at a higher than average return. The Irish banks then lent it to the property developers. But since the Euo banks took the risk, they should be sharing in the consequences. That's capitalism. But the Irish government has insisted that the Euro banks get ALL their money back, with interest. How is that capitalism? And why should the ordinary Iriswh taxpayer be paying for it? They didn't gamble but they're stuck with the bill.

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pilib04 | Feb 01, 2011, 09:17 AM EST

Now is the time for Ireland to elect a government free of those who support the IMF-EU bailout/sellout. Those who profiteered from the collapse of the Irish Economy should not be permitted to run for the Dail. In fact, they should be run out of Ireland. The Gombeen men and women of Fine Gael and Fianna Fail have had their day. Vote Sinn Fein.

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hancock | Jan 31, 2011, 07:20 PM EST

Krugman is a partisan hack, remember they give out Nobels for winning American election now.

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WoundedKnee | Jan 31, 2011, 01:22 PM EST

Why is Ireland importing thousands of workers from India, Mongolia, Poland, Mauritius etc. if the Irish people can't find work? Someone's not telling the truth. I myself think this whole Irish unemployment problem is bogus. There are lots of jobs in Ireland. The Irish just want to create sympathy and pity so that they can get their hands on more visas to come to America.

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hollabackgurl | Jan 31, 2011, 12:54 PM EST

It's absurd to blame Ireland's financial collapse on the Irish health service or stamp stax. Are you for real? That makes you sound like a total crank. Ireland collapsed due to the banking industies mismanagmant, the property developers greed, and the governments incompetence.

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OurselvesAlone | Jan 31, 2011, 12:25 PM EST

@hollabackgurl Friedman is my go-to for economic theory which doesn't change with shifting political winds and fads. Friedman advised Chile on economic policy in the 70's which why there are no fundraisers/benefits/telethons for Chile today although it had an earthquake 500 times more powerful than Haiti. I don't need someone like Krugman from his cubby hole in Princeton to analyze Ireland's problems for me. The govt in Ireland looked the other way on bank regulation because they were addicted to the stamp tax revenue on real estate transactions (the Yank in Ireland has great comments on his blog)enabling them to spend money on curing every social ill plaguing mankind, save maintaining a functioning health care system.

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johnymac60 | Jan 31, 2011, 11:56 AM EST

There is no doubt that each of us has an opinion on the cause of our national demise - and in fact, each of us makes a good, if partial - attempt to explain it. I think it was a complicated matter that resulted from a combination of these factors. Some unfettered capitalism; much croneyism; endless political familial dynastys; too many spending programs we had no sound financial strategy to pay for.... I can only hope our future politicians will be better than those of recent vintage, and will learn these lessons hard.

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