There is No Plan B

Marian Finucane yesterday spoke with artist Robert Ballagh about Ireland’s strategy if Greece defaults.

Robert Ballagh: “Well I think, honestly, and I’m no economist, but I am absolutely convinced that Greece will default, I’m absolutely convinced that the Euro will either collapse or be divided into some other sort of thing. And I think that’s incumbent on our Government to have some Plan B in place because I think we are facing disaster down the road.”

Marian Finucane: “Well I presume there are discussions on a Plan B. I mean I presume they can’t be done publicly but that they are happening.”

Ballagh: “I’d like to think that there’s a kind of economic war cabinet sitting there deciding what we’re going to do when all of this blows up in our faces.”

[One hour later on RTE R1’s This Week]

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Colm O’Mongain (presenter): “The current economic atmosphere in Europe at the moment, are we planning, or do we have any contingency plan in place for the eventuality of a Greek default?”
Brendan Howlin, Minister for Public Expenditure & Reform (above): “I think it’s too early to be speculating on these matters. We should wait for the result of the troika now who are examining the situation in Greece, what is within our own control, to get our own finances in check and I suppose the Budget will be the next test of that. And externally, we have to input, as best we can, in the dialogue at European level, to ensure that, whatever happens, into the future, that the tidal wave does not, should it happen, impact over much on us. Em…“
O Mongain: “But we have no specific emergency plan at present for the eventuality of a Greek default?”
Howlin: “Well I think even speculating on such matters is damaging so we don’t speculate on it.”

Marian Finucane, Sunday (RTE R1)

Interview with Brendan Howlin (This Week, RTE R1)

(Sasko lazarov/Photocall Ireland)

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