Monday, 8 December 2008

No doesn't mean no

At least, not in the European Union it seems.

On Thursday the Irish Prime Minister Brian Cowen will confirm that a new vote will be held in 2009.

Diplomats have named October as the most likely date for the vote, while Government sources said April was also being considered

Mr Cowen said he believed that the economic crisis could help persuade some of those who voted against the Treaty to change their minds.

The Government is expected to argue that Ireland would have been in a worse position if it had not signed up to the euro, and that the Treaty will speed up decision-making and help tackle the downturn.

That part of being "worse off" out of the euro is of course insane. With their own currency Eire could have set interest rates to suit their own economy rather than that of Germany. They would thus have been higher and the housing boom and subsequent bust less painful.

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