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There is common agreement that whichever way the referendum goes, we are in for austerity.
The question is how much and when. How much is a function of our debt repayment level, and in turn on when we can get our budget under control.
We can do it sooner or later, the amount will be roughly equal.
So the question boils down to ‘when’ we have austerity — now or slowly into the distant future.
Continuing as we are ensures a slow and painful route to ‘wrack and eventual ruin’, and debt forgiveness in slow dollops under the heel of an unforgiving ECB, until they eventually abandon the experiment. A change of direction, not to say policy — to say ‘no, we will do what is required, but in our own way and in our own time and under equitable and sensible terms we can handle’.
It may give us short-term austerity, but it will give us the self-confidence to throw off the shackles of austerity and dig ourselves out of the bind we are in. If you had a painful boil on your bum, would you hope it would heal or would you lance it and endure the short-term pain, followed by quick relief?
I know what I would do. Vote early, vote often, but do vote.
Kevin T Finn
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