Yesterday I found this post on the Telegraph website (via Stephen Kinsella). Its quite a worrying read for those of us who are worried about Ireland’s future.

Ireland is funded until April but after that we will have to return to the bond market. Our auctions are currently suspended. As Colm McCarthy said in the Irish Independent

“The €1.5bn not borrowed in October plus the €1.5bn not borrowed in November represent borrowing postponed, not borrowing avoided,”

If we can’t raise this money, we may have to tap our pensions reserve of €12bn, but that is not a good idea as we do need that money.

The spreads over German Bunds are mimicking the action seen in Greece in the final hours before the dam broke.

This is a worrying sign. Are we about to the way of Greece?

Even if the government manage to win the Donegal South West election and pass the budget, we might still not be better off.

Its looking like sooner or later we will have to go cap in hand to the EU-IMF bailout fund.

Related articles

• Ireland’s Fiscal Situation Is So Bad, The IMF Had To Modify This Chart (businessinsider.com)
• Ireland ‘edging closer to debt default’ (irishexaminer.com)

In a recent blog post Stephen Kinsella has the following to say about the Middle Class in Ireland:

When you look closely, you see the middle class just doesn’t exist.

While I would agree in principle that on paper and using accepted definintions the middle class in Ireland is very small, but thats not what matters. It is self perception.

When I read his post, I could see myself agreeing but then realising, hang on, thats not how people will perceieve themselves. As we humans are always likely to rate ourselves higher then what statisticians tell us.

Why do I think that? Well look at any of the cities in Ireland you have your areas that are nice to live in, and those that aren’t. Most people *I* think in Ireland would base their social class by where they live.  Not on by the type of job they have or the amount they earn in comparison to the national average.

Its whats how people perceieve themselves that matter, not the box acedemics put them in.

Techcrunch have started the voting in the Europas which according to them is

the tech innovation awards honouring the best tech companies and startups across the web and mobile scene from across Europe, the Middle East and Africa.

The awards will be announced on the 9th of July in a ceremony in London. You can vote here in the categories.

I would like to bring your attention to a few of the nominess and ask you to vote for them.

Decisions for Heroes is nominated in the Best Social Innovation (which benefits society, EMEA) Category. Decisions for Heroes is an Irish start-up witha great future ahead of it!

Loudervoice is nominated in the Best Web Application Or Service (EMEA) Category. Loudervoice is a great review website and is on the up and up!

Best of luck to all those nominated!