We need to face up to reality and pull together

THE question is raised: should Ireland default? Let’s put the question to the people in a referendum.

However, the Irish should face a reality check first. Let’s benchmark salaries, unemployment social welfare payments and the minimum wage. Compare this bench mark against the average of wealthier countries like Germany, France and the UK and adjust our wage rates downwards. Yes, we are referring to our GPs, hospital consultants, nurses, ESB workers, public pensions and social welfare recipients, etc. It is time now to be mature as a nation and let us all pull together for the sake of our nation.

Next, put all billions from the bank bailout including NAMA and Anglo Bank into a rescue package called the “Irish Euro Bailout bond”. Due to the benchmarking process there will be an extra costs on private house mortgage defaults, this cost too will be passed into this bond. Ignoring the costs of the bailout, the government should prepare the annual budgets where expenditure is balanced against our tax revenues. Yes we should plan for the water tax and the property tax rate and perhaps a second level of tax on our offshore oil and gas profits.