Daniel Hannan’s little photo essay reminds everyone that the Irish government and all the major Irish parties forced the Irish people to vote a second time on the EU ConstitutionLisbon Treaty and sold it to them on the basis of economic recovery, specifically including more “jobs and investment”. And he asks “Well, guys, here we are a year on. How’s the recovery working out for you?”
One has to wonder about a “bailout” courtesy of governments who are already robbing pension funds in order to continue their maddened spending:
>Asset managers will have the chance to get billions of euros in mandates in the next few months for the €36bn Fonds de Réserve pour les Retraites (FRR), the French reserve pension fund, after the French parliament last week passed a law to use its assets to pay off the debts of France’s welfare system….
The move reflects a willingness by governments to use long-term assets to fill short-term deficits, including Ireland’s announcement last week that it would use the country’s €24bn National Pensions Reserve Fund “to support the exchequer’s funding programme” and Hungary’s bid to claw $15bn of private pension funds back to the state system.
Don’t worry, it’s not as if the US government is heavily indebted or would ever even contemplating the seizure of pensions or tax-free retirement funds….