Ireland Government Crumbles As Green Party Pulls Out Of Ruling Coalition

Tyler Durden's picture

It has been a while since we had one of those "before Asia opens" kind of Sundays. Today just may be one. BBC has just reported that the Irish Green party has pulled out of the ruling coalition with Fianna Fail which is "expected to bring forward the general election from 11 March." In other words suddenly the entire Irish "rescue", taken for granted for over a month, will have to be reexamined, once the new ruling party, which will certainly be from the current opposition reevaluates the terms. Elections are now expected to come some time in mid-February. Look for peripheral bond spreads to go whooosh tomorrow.

From BBC:

The party's announcement, after a meeting in Dublin, follows a
decision on Saturday by PM Brian Cowen to quit as leader of his Fianna
Fail party.

Mr Cowen had said he would stay on as PM until the election, a move opponents had described as "farcical".

The Greens' decision removes the ruling coalition's two-seat majority.

The Green party is having a press conference right now which can be watched here:

Full green party statement:

Green TDs and Senators leave Government


Good afternoon ladies and gentlemen and thank you for joining us.

On November 22 last we said that an election should be held early this
year because of the events surrounding the IMF bailout. On that occasion
we identified four key priorities, which needed to be addressed before
this election could take place. These were: concluding financial
arrangements with the EU/IMF; producing a four-year economic plan;
passing Budget 2011; and passing the Finance Bill to give effect to that

Today, three of these four objectives have been completed. We believe it
is possible to complete the Finance Bill quickly before going to a
general election.

We believe that this election is absolutely necessary. The Irish people
have begun to lose confidence in politics and in the political process.
They have watched aghast the conduct in Dáil Éireann of political

The Irish people expect and deserve better.

For a very long time we in the Green Party have stood back in the hope
that Fianna Fáil could resolve persistent doubts about their party
leadership. A definitive resolution of this has not yet been possible.
And our patience has reached an end.

Because of these continuing doubts, the lack of communication and the
breakdown in trust, we have decided that we can no longer continue in

We will remain true to our promise to support the Finance Bill from the
Opposition benches, with the promised cooperation of the opposition
parties. Yesterday, Eamon Ryan initiated contact with the main
opposition party in this regard. And they have undertaken to facilitate
the passage of the Finance Bill.

I understand that similar undertakings have now been given by other opposition parties.

We hope that they will keep their word.

We also hope that the Fianna Fáil party will make every effort to fast-track this legislation.

It has been a very rare privilege to serve in government. It would of
course have been preferable if our time in government had not coincided
with the worst economic downturn in our nation’s history. It has meant
having to take the most difficult decisions that any party could have

We did so it was because it was the right thing to do.

I am proud of our many achievements in the areas of planning, renewable
energy, energy-standards of buildings, water conservation and other
environmental areas. I’m proud that we gave rights to gay couples
through civil partnership, and that we persisted in our belief that
education and the arts should be protected. These two areas are
absolutely vital for our economic recovery.

I regret obviously that we did not have more time to complete our other legislation, which is very well advanced.

I would like to thank our party members for their steadfast and loyal
support in the face of unprecedented challenges. I’d like to thank our
hard-working staff and our families who have had to endure the pressures
that go with being in government.

Our record is one of responsibility, reform, steadfastness and creativity.

And these are the very characteristics that will enable this country to
get back on a path of sustainable recovery, underpinned by a very
different set of values.


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DCon's picture

All parties will support the Finance Bill to legalise the IMF/EU bailout


unky's picture

Agreed. It doesnt make a difference which party is ruling. Just imagine we could elect someone and we could achieve fundamental change in anything - it will never happen!

All parties are working for the globalist elite and thus on its way to a one world currency. They will force them under the rescue "umbrella" bailout package

Turd Ferguson's picture

This is better. I'm particularly proud of my latest creation. its highest form:

Joe Sixpack's picture

Nice work, Turd. I linked it over at www.Gold-Silver.US/Forum , and titled it "Jim Sinclair Passes the $1600 Gold Baton to Turd Ferguson"


I hope you don't fumble it!

goldfish1's picture

All parties are working for the globalist elite...

They do what they're paid to do.


Mad Mad Woman's picture

I wouldn't be so sure of that. We're in a time of turmoil right now and almost anything can happen. I don't see it as a done deal. Far from it.

unky's picture

Ireland is not Tunesia...

attst487's picture

However, they better start checking their politicians luggage.

bunkermeatheadprogeny's picture

For pots o' gold, lucky charms, and whiskey.

bunkermeatheadprogeny's picture

Guerilla war is still in the generational memory of the Irish.

You'r right, its not Tunesia.  In fact, it may be more violent.

Yits and the Yimrum's picture

these socialists are like cockroaches, good luck with getting them throw out.

Some guy said Who do you vote for?  You don't, you get out the word that the demo-rethuglican shakespeare is bullshit, and needs to be ended.

Jack Donaghy's picture

Finance Bill will still pass. This will just lead to the total annihilation of the Greens. *rubs self all over with glee*

Quintus's picture

I was under the impression that the Labour and FG parties have already made clear that they will oppose the Bill?  Have they changed their positions?  Seems like a vote-loser to me, as public opposition seems to be running pretty high right now.

Horatio Beanblower's picture

I am pretty sure that Labour have said that they will support the passage of the Bill.

Quintus's picture

Shows how much they really care about the 'Working Man' then.

Horatio Beanblower's picture

Communists/Socialists care about nothing apart from their twisted and discredited political theories and their positions of power.  I am amazed that the 'working man' still votes for, and donate his hard earned money to, Labour parties all over the world.  Some people are just really, really stupid.  Sadly there are a lot of stupid people in both Ireland and the UK.  It is abundantly clear that the 'working man' just loves to be shit upon, in fact, he revels in it.   

Devout Republican's picture

I know the day is coming when Jesus will return and give us true free market capitalism!

Palin 2012!

tmosley's picture

You do know that both parties are equally at fault for destroying the free market in this country, don't you?

Joy, another dumbshit partisan troll.

Rick Masters's picture

tmosley: most of these trolls come from the sewer so I think its time we step into the guttter to squash them. hahaha Seriously, It always makes me wonder how people have such allegiance to either of the parties cause bothe the Rs and Ds have allegiance to no one except themselves and their banker patrons.

EscapeKey's picture

Oh in that case you don't want to head over to BusinessInsider. Full of "Obama is the antichrist!!11eleventyone". Not that I don't think Obama is a moron, but partisan muppets who sit and accuse the "other side" (when it's so blatant - and as Carroll Quigley confirmed in "Tragedy & Hope" - both sides are controlled by the same group of people) get really, really tiring.

SRV - ES339's picture

Just to clarify... if you think President Obama is a moron, how would you describe President Bush?

JohnG's picture

The last name there pretty much sums it up.

jeff montanye's picture

they are both complicit.  one would be hard pressed to imagine a fantasy that so proved nader's assertion in 2000 that the two parties are much the same as the back to back (or belly to belly?) administrations that followed that assertion. 

EscapeKey's picture

Obama's just a useful idiot. He'll do as he's told.

Bush? Oil executive, hiring an oil industry veteran as VP, and they invade Iraq within 2 years. But it DEFINITELY wasn't for oil. And "Kennyboy" and his fraud... nah, Bush CERTAINLY didn't know anything about that. And don't get me started on the bailouts.

Calmyourself's picture

A complicit fighter pilot with better grades than the Goracle and the guts to release them unlike the bamster..  How is that?

Terminus C's picture






That was some funny shit!

(I didn't junk you)

Al Gorerhythm's picture

Your next deep hypnosis session is Sunday at 7.00am

Fred Hayek's picture

Let's not restrict that condemnation to the UK and Ireland.  Here in the U.S., the dems regularly posture as the party of the working man yet regard actual contact with such people as the equivalent of kissing a sore ridden leper and actually make the working man's life much harder, on the whole.   Yet, especially among certain subsets of older voters, there are hordes of fools who actually think the Obamas, Pelosis and Schumers of the world do nothing but work tirelessly for them. 

Rick Masters's picture

"working man" could also be aptly called "the middle class" and if not the democrats then who exactly should a middle class person vote for? And while we are talking about discredited theories like communism, I would throw in the Chicago school's theories as discredited and opposed to middle class needs. It's failed anytime it's been implemented and always leads to the concentration of wealth and bust cycles. I'd like your thoughts. Please spare me the name calling. I'm here for honest debate not politics.

attst487's picture

Nobody for president in 2012!

Terminus C's picture

They need to add, "None of the above" to the ballot.

If "None of the above" wins, then no-one is sent for that seat and that electoral area will vote on bills through referendum.  No bill can be passed until all referendum have been tallied.

Of course, with vote stuffing and disqualification the issue would be decided before anyone actually voted.

If "none of the above" is elected president/vice president then... we be fooked.

Amish Hacker's picture

Using the slogans, "Nobody's Perfect" and "Nobody Cares."

merehuman's picture

Hello . I am for me!

jeff montanye's picture

ron paul.  the most dangerous policies of the bush/obama administration would be substantially reversed (if he doesn't turn out to be a liar as well) as they are largely controlled by the president (foreign, national security, economic, law enforcement, military).  ending crony capitalism and the endless bailout/endless war syndrome would bring the possibility of organic economic growth much closer (dear to the pocketbook and wallet of the impoverished middle class).

EscapeKey's picture

"the National parties and their presidential candidates, with the Eastern Establishment assiduously fostering the process behind the scenes, moved closer together and nearly met in the centre with almost identical candidates and platforms, although the process was concealed, as much as possible, by the revival of obsolescent and meaningless war cries and slogans" - Carroll Quigley, "Tragedy & Hope", pg 1247.

snowball777's picture

You're confused as to why the "we want to take away your entitlements" platform isn't a hit with the octagenarians?


M.B. Drapier's picture

While Fine Gael is offering to do whatever it takes to push it through by the end of next week!

EDIT: Wait, but what's this? The Fianna Fáil finance minister insists the bill can't be passed in a week? If that story's true (or if FF sticks to it whether it's true or not), then either the Greens are in for a second humiliating failure to end this government as soon as they promised to, or there will be an election before the Finance Bill is passed - several weeks of high suspense and market tension until the new government meekly passes the thing right at the beginning of its term.

Terminus C's picture

Political circuses, bitchez!

Jack Donaghy's picture

They've agreed to support it in exchange for an early election. Mind you the Opposition Labour Party has tabled a confidence motion in the Government which is going to be a very tight vote. 

Independents may not support it. The Greens, who have just left Government, may/may not support it. Fine Gael may support it. 

In all reality however Ireland is in the middle of serious political uncertainty. One way or another though. A new Government will exist in 50 days. 

Quintus's picture

They've agreed to support it in exchange for an early election.

So, selling out your country and consigning it to eternal penury in exchange for the minor political advantage to their party of getting an earlier grab at power is OK in their book?  Jesus Christ!  And to think that politicians wonder why they are universally held in contempt.

cossack55's picture

Sounds like republicans, oh wait, sounds like democrats, oh wait, sounds like republicans, oh wait, sounds like democrats, ad. infin.

ElvisDog's picture

Greens are in a no-win situation. They don't want to go down with the ship that is the current government, but won't endear themselves by pulling out of the government either.

dick cheneys ghost's picture

what does a trillion dollars look like?


would love to see this as a zerohedge headline!



Ludwig Van's picture


Nice visualization, but we'll never see it except in cartoons. The costs are prohibative. Just as we have, for instance, paper fractionalizing physical metal, so now is the day of digital entries fractionalizing physical paper...

...not to mention the cost of pallets.


Bob's picture

I like to visualize it in terms of the speed of light.  5.9 Trillion miles = 1 Light Year. 

1 Trillion miles = .17 light year.

Winston Smith 2009's picture

Then US national debt in dollars is 2.79 times the age of the universe in days.