Could Leaving the euro return Ireland to a more stable economic growth?
By Direct Democracy Ireland
It has become very clear in the last few decades that our financial system is broken, though not broken for all, just the vast majority of us. The way it is set up requires continuous growth just to simply pay the debt from which it creates money for itself. Money is effectively created from nothing but enables itself to benefit some through interest. It then exchanges the interest on “nothing” for something. For real assets like, Land, Industry, Natural resources- or our decades of hard labour.
This system has an inherent flaw; it creates unsustainable “growth” rates which then cause inevitable oscillation through boom/ bust cycles.
It effectively manages and provides for control of the flow of true wealth- from the many who create it through their labours- into the hands of the few who control the issuance of money. This system has enslaved the majority of the people of the world over the last 250 years; replacing slavery by force with debt slavery. We know this system must end.
To many people it may seem odd to call for a default on debts forced upon us or for an exit from the eurozone- Most people don’t want to consider either of these options for fear of the unknown. The thing is we are making no real economic progress despite enduring so much Austerity. The astonishing part is, as it is clear for all to see, that successive Governments and EU think-tanks have misdiagnosed the problem; in Ireland our current economic problems did not start with the bank guarantee, they have their roots embedded in the catastrophic decision to join a unified currency with our European neighbours without any consistency in financial or economic policy, and without any mandate from any of the peoples of Europe including Ireland, to do so.
For you consideration here we pose three reasons why Ireland (that is, the PEOPLE of Ireland) should consider leaving the euro-zone
- The eurozone has always given us interest rates that benefit the private bank-for-profit that is the ECB, but which are very unfavourable to our financial state of affairs (eg; Between 1997 and 2007 the Rates were too low; since 2008 they have been too high. Resulting in an Irish domestic economy that has gone from a decade of living to now just Surviving. To adopt suitable interest rates for Ireland we must restore economic sovereignty to the people of Ireland, and this inevitably means reissuing a new Punt or similar- linked if the people wish with an appropriate rather than an inappropriate currency eg; Sterling, the Dollar, or Chinese Juan, etc.
- By handing over control of our finances to Frankfurt- that is effectively the unelected people running the ECB- we lost all control here in Ireland. That means that finance policies which have been successful in the US and the UK such as quantitative easing is denied here in Ireland when we need it- it is only considered when it suits Frankfurt and the ECB. Although these countries have debt problems they have suffered far less economic stress than we have, to follow the US and the UK in that regard we must seize back control or our finances from Frankfurt and the private bankers.
- By leaving the Euro we could gain back control of our currency (the physical money) to find a new and lower level that will be much more likely to stimulate economic growth and much needed employment: In normal circumstances when a country suffers a severe economic downturn, its currency will drop and so soften the blow to absorb some of the recessions deflationary effects. The result of such a currency drop also makes the country’s exports and tourism product more competitive. But, in the exact opposite of what you might wish for, since 2007 our currency the euro has risen – not fallen – by 25% against sterling. If we do the sums on current exchange rates we can compute that an old Punt would be now worth £1.05 sterling. This is a VERY alarming high exchange rate.
Direct Democracy Ireland will fight for a society that is fairer; a society using sound Irish-decided fiscal policy paid for using money issued within Ireland by an organisation working solely for the people of Ireland. We will end money that is created out of debt, and create a system where wealth doesn’t trickle up through interest and unearned income and profiteering, a monetary system based on real value. Only then will we see the end of the recently snowballing unsustainable wealth divide and the endemic bankruptcy that is built into the system we currently use.
A common complaint about representative democracy is that it creates a distant class of law-makers who will often collude with vested interests, or become so detached from the lives of the general public, that they will make decisions that the public do not support. By contrast, in a Direct Democracy system, such corruption of decision-making is impossible if every citizen is an equally powerful participant in the process.
In Direct Democracy Ireland we will do more than this to guarantee your power. We will
1) reinstate the power of Citizen Initiated Referendum allowing YOU to create new law or policy, and to overturn bad law or policy
2) give freedom to your elected representative to do what you want, unfettered by party whips- an antiquated system which is fundamentally anti-democratic
3) ensure YOU have the power by allowing you to Recall (sack, remove) a TD, minister or indeed a Taoiseach, anytime, for any reason- so if they go bad, or are useless, YOU can pull the plug on them. Not once every five years, but ALL THE TIME.
These things, combined then with an updated process of democratic involvement and referendum whereby the people debate topics of importance to the people, and then decide which direction the country will take- these four things become the cornerstones of a true democracy. One which is effectively incorruptible. Of the people, by the people, for the people.