Shock Doctrine comes to Ireland
A video from today of Irish students protesting against cuts to education funding. Go 3 minutes in to see the police take their truncheons to a group of students who are clearly posing an immediate physical threat to the officers – while sitting down.
At the same time as the Irish Government beats austerity into it’s people, it’s economy has collapsed. Since their massive cuts, the cost of borrowing has hit record levels. As the Guardian reports today:
“Nick Stamenkovic, a fixed-income strategist at the Edinburgh-based RIA Capital Markets, told Bloomberg: “The biggest worry about Ireland is the growth picture.
“Investors are fretting that the actual growth implication of these fiscal consolidation measures may make it more difficult for budget deficit targets to be achieved.”
Or, in other words, the cuts have made things worse.
But never mind. George Osborne has always said that the Ireland’s economic plan is the example we should follow. And he seems to continue to want to charge after the “Celtic Tiger”. Long after it has run over a cliff.