web.archive.org

JUNJULAUG
02
201720182019
1 capture
02 Jul 2018
About this capture
Last Update 22:23
About Us
Monday, 02 July 2018
Indebted Irish to wreak revenge on leaders in vote
Debt crisis to remove Irish ruling party Fianna fail from long enjoyed leading position in parliament
Reuters , Friday 25 Feb 2011

A man protests outside the Department of the Taoiseach in Dublin Thursday. Friday's election is the first in Europe to be dominated by the region's debt crisis, (Reuters).
Tweet
Views: 760
Print
Tweet
Views: 760
Related
Irish voters set to oust government over crisis
Irish official unemployment rises to 13.4 per cent
Europe's debt crisis was set to claim its first political scalp on Friday as voting began in an Irish election dominated by the trauma of economic collapse and the harsh path back to financial stability.
Voters are in a vicious mood over the bursting of a property bubble that has left them steeped in debt and facing years of austerity to repay the European Union and the International Monetary Fund for an 85 billion euros bailout.
The ruling Fianna Fail party is braced for a record kicking with opinion polls suggesting it will only retain around 20 seats in the 166-seat parliament, ending the dominant position it has commanded in Irish politics since independence from Britain in the last century.
"There is a seething anger, and the election is acting as a pressure valve," said David Farrell, a politics professor at University College Dublin. "But the incoming government won't have much of a honeymoon either."
Buoyed by its arch-rival's woes, the centre-right Fine Gael party will almost certainly lead that government with recent surveys signalling it could win nearly 80 seats putting it within shot of forming a single-party administration for the first time in its near 80-year history.
But a minority Fine Gael government would need the support of a rag-bag of independents and for the sake of stability, most analysts expect it will form a coalition government with the centre-left Labour party to navigate the early years of the EU/IMF programme.
"I'm not marking any of the parties who have been culpable in the past," said Dympna, a 44-year-old media professional, who said she would vote for Labour to punish Fianna Fail and curb Fine Gael's appetite for public service cuts.
"I know Fine Gael are going to get in, but hopefully not on their own," she said.

Despite the pre-election invective being hurled between Fine Gael and Labour, the two parties have a history of working well in government and both have campaigned for a mandate to renegotiate the terms of the EU/IMF package, widely seen in Ireland as punitive.
Fine Gael's leader Enda Kenny has already paid pre-election visits to Brussels and Berlin but any loosening of the terms for Ireland's loans will be agreed as part of an overall European package to deal with the region's debt crisis in two summits next month. 
While there is hope that Ireland's borrowing costs may be reduced as part of a wider deal, Dublin is unlikely to be given a green light to impose losses on some senior bondholders in Irish banks in the face of ECB opposition.
"All the parties are coming up with policies that hopefully can make things as good as they can be made but really I don't think any of them have power because its the bondholders who call the shots," said Isabelle, a 71-year-old nun.
Even with more relaxed borrowing terms, Ireland will still have to get the worst budget deficit in Europe under control by 2015 and if growth falters additional cuts may be needed, ensuring a short honeymoon for the new government.
The biggest fault-line between Fine Gael and Labour is over the deadline to tackle the deficit with Labour wanting an extra year, 2016, to get it under 3 percent of GDP, the EU limit, from nearly 12 percent of GDP, on an underlying basis, last year.
Despite the return of mass emigration, one in 10 unemployed, widespread negative equity and a rising suicide rate, Ireland has not experienced the kind of mass public protests seen in fellow euro zone struggler Greece.
Hard-left parties, including the nationalist Sinn Fein, have seen a surge in support on promises to rip up the bailout deal, but are expected to remain a small minority in parliament given Irish voters' preference for low tax parties.
The expected humiliation of Fianna Fail, which has run the country for 61 of the past 79 years, would mark a watershed in Irish political history. If it does only secure around 20 seats down from 78 in an election four years ago, it will be the sharpest collapse of support for any Irish party.
Voting in Friday's elections will be from 0700-2200 GMT and the first exit polls with be released early on Saturday. Manual counting under Ireland's system of proportional representation is likely to continue into Sunday. 
Search Keywords:
Ireland
-
Fianna Fail
-
crisis
-
debt
-
Fine Gael
-
Short link:

 
Related
Irish voters set to oust government over crisis
Irish official unemployment rises to 13.4 per cent
Email

Name

Comment's
Title

Comment

Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest
22:27 Belgium win shows 'character': coach Martinez
22:23 Factbox: Colombia v England
22:23 Preview: Sweden offer litmus test for golden Swiss generation
22:18 PHOTO GALLERY: Belgium fightback to beat brave Japan and reach World Cup quarters
21:47 Officials: Attacks in Pakistan kill 6 troops, 2 policemen
20:54 Match facts: Belgium v Japan (World Cup 2018, Round of 16)
20:45 Displaced Syrian families stranded near Jordan border
20:41 'Beautiful' Willian wins praise from Brazil coaches
20:01 Uruguay's Cavani would be huge loss if he fails to make France game
19:59 UK PM May wants future customs relationship with EU by end of 2020
19:21 Alli can help England write their own history says Southgate
19:08 We have to learn to suffer, says Brazil's Neymar
18:35 Russia's Lavrov, Iran's Zarif discuss Syria by phone: Russian formin
18:19 National Bank of Egypt changes interest rates on savings accounts
18:10 German conservatives urge Merkel, Seehofer to settle migrant row
17:59 African Union creates migration body
17:54 PHOTO GALLERY: Brazil beat Mexico 2-0 to reach World Cup quarters
17:44 We let Schmeichel down, says Denmark playmaker Eriksen
17:26 US senators visit flashpoint Syrian town Manbij
17:26 Spain: 160 more migrants recued in Strait of Gibraltar
17:12 James Rodriguez doesn't have 'serious injury', says hopeful Pekerman
16:57 Malta detains second migrant rescue ship as hundreds die at sea
16:44 Match facts: Brazil v Mexico (World Cup 2018, Round of 16)
16:32 Nigeria risk confrontation with FIFA over leadership row
16:28 Egypt put in a fighting show to finish 5th at Mediterranean Games
16:21 Russia's Lavrov to meet US Congressmen on Tuesday: Ifax
16:05 Veteran Egyptian goalkeeper El-Hadary joins Ismaily in free transfer
15:51 Mexico president-elect wants to remain in NAFTA, friendly US ties
15:50 Kremlin says Crimea not on agenda at Putin-Trump summit
15:45 Egyptian Actor Mohamed Ali named guest of honour at 11th Ohran Film Festival
Readers Picks
Most Viewed
Most Commented

Ahram online
© 2010 Ahram Online.
HomeEgyptWorldCup2018TravelBusinessOpinionWorldArts & CultureFolkSportsLife & StyleHeritageBooksAnalysis