Labour’s dilemma

Labour has 37, Sinn Fein 14, Socialist 2, People before Profit 2.

The question is; should Labour stay aloof and go into opposition? At 60 years plus, Pat Rabbitte, Ruairi Quinn are over 60 and have a great deal to offer the country. If Labour did stay out, it would seriously curtail Fianna Fail potential for resurrection. Debate in the Dail would often be economically sureal. It is impossible to spend money that you do not have on an indefinite basis because the donor will get fatigue. The thesis that money is free is also an absurdity. Fintan O’Toole’s article in Tuesday’s Irish Times is full of hyperbole and political fantasy. It is safer to avoid reading this stuff to avoid indigestion.

Jimmy Kelly of Unite trade union on Tonight with VB on TV3 did not make much of a fist of arguing for Labour in opposition and was swatted aside gently by Paul Sweeney of SIPTU/ICTU. Labour will join the government and be held to account by the people in future elections. The consequences are obvious but unavoidable.

I hope there is debt renegotiation after one year as part of the Euro salvation. Jobs will be the key as will the survival of middle class families with mortgage difficulties.
€8.6bn amount owed in arrears
€6.2bn amount owed in accounts more than 180 days in arrears
6 % mortgage holders in arrears
106 repossessed homes in last quarter of 2010
44,508 mortgages in arrears at end of 2010
59,229 restructured mortgage accounts

These figures show the extent of the pressure on the middle classes