The Market Oracle is a daily newsletter that provides “analysis from over 600 experienced analysts on multiple views of the probable direction of the financial markets”.
Here’s their post-fiscal vote critique:
“Ireland has just frightened [its people] into voting in favour of austerity for continuing euro-zone bailout cash. The facts are that Ireland’s banks have bankrupted Ireland and Ireland remains PERMANENTLY reliant on Euro-zone bailout funds to keep it’s economy just flat-lining. The Irish people are in a state of denial, they just cannot comprehend the fact that Ireland is bankrupt. Until the Irish people realise this fact then Ireland will continue to suffer indefinitely as periodically it’s bankrupt banks will declare MORE hidden losses and request MORE bailouts of a country that is broke and Ireland will then have to agree to even more austerity if it is to be in receipt of its NEXT German bailout on top of the Euro 67 billion to date.”
Thanks, Market Oracle.
Pic by PJ Sheedy