Emmet Oliver, the Business editor of the Irish Independent has written a piece today to applaud the way in which the IMF works. Particularly he hails the fact it is essentially undemocratic.
The beauty of the IMF/EU rescue is that the various obstructionist forces no longer hold any great power. The IMF does not care one jot about backbenchers' concerns, does not care one jot about the Irish trade union movement/employer groups and does not care one jot about the fickle reactions of the electorate.Wow. No I mean wow. His article needs to be understood as a great wail of 'we are not worthy'. And democracy fails.
Of course democracy doesn't fail in itself. It requires people who have no interest in democracy for it to fail. If Ireland had listened to its won people over the two referenda in which it rejected EU rule, then the situation would be very different. He may be right when singleing out pork barrel politicians and the Trade Unions. But he certainly isn't right when he castigates the electorate. After all, one has to ask if he thinks they should have their say at all. I mean if they are so fickle and destructive, why a llow them to vote? Why not hand over all aspects of government to experts and technocrats?
Amusingly back in May during the Greek crisis he took a different line,
Will every future finance minister in Europe now operate on the basis that a helping hand will always be available from the eurozone family if their governments abandon any form of fiscal prudence?
Via Leigh Phillips