Comments on: In Ireland – deep public sector cuts are working . . . http://www.economicpolicycentre.com/2010/02/14/in-ireland-deep-public-sector-cuts-are-working/ The EPC aims to close the gap between policy and knowledge in new and innovative ways Sun, 11 Sep 2011 09:26:39 +0000 hourly 1 http://wordpress.org/?v= By: Glenn Calderwood http://www.economicpolicycentre.com/2010/02/14/in-ireland-deep-public-sector-cuts-are-working/comment-page-1/#comment-48 Glenn Calderwood Sun, 14 Mar 2010 16:10:58 +0000 http://www.economicpolicycentre.com/?p=153#comment-48 It is also true that the PIIGS coutries could afford to have tighter regulation of their financial sector, since so few world players were based in their markets. But Ireland did show the way, thinking long and hard about public spending when there was no possiblility of a bailout from Germany. This is a lesson that needs to be learned in Portugal, Italy, Greece and Spain if their economies are ever to be taken seriously. But the doomsday scenario is surely for things to go on as they are, bailouts to occur, and for the ECB to appoint financial comissioners to oversee the economies of the PIGS, a bit like Egypt in the old days. It is also true that the PIIGS coutries could afford to have tighter regulation of their financial sector, since so few world players were based in their markets. But Ireland did show the way, thinking long and hard about public spending when there was no possiblility of a bailout from Germany.

This is a lesson that needs to be learned in Portugal, Italy, Greece and Spain if their economies are ever to be taken seriously.

But the doomsday scenario is surely for things to go on as they are, bailouts to occur, and for the ECB to appoint financial comissioners to oversee the economies of the PIGS, a bit like Egypt in the old days.

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