Articles tagged with: Maurice Kinsella

The Implosion of Solidarity: A Critique of the Euro Zone Crisis

on Wednesday, 11 July 2012. Posted in Issue 69 The Future of the Euro, Economics

Introduction
The post-2007 global financial crisis was, fundamentally, an ethical crisis.1 This crisis and its aftermath presented in a distinctive way within the euro zone. What distinguishes the euro zone crisis has been the collapse of ‘solidarity’, considered both as a social virtue and as an integral part of the Schumann–Monnet model of a new European order, a renewal of Europe from the ashes of World War II. Unless and until the true meaning of solidarity is rediscovered and reanimated within the political leadership of the EU, there is unlikely to be economic stabilisation and recovery. In other words, a failure to move the Franco–German dominant consensus away from the hegemony established in the wake of the euro zone crisis, and towards a rediscovery of solidarity, will result in the serious risk of the ‘Balkanisation’ of Europe within a generation.

Irish Banking: Rediscovering Values for Rebuilding and Renewal

on Thursday, 02 June 2011. Posted in Issue 66 New Dáil: New Dawn?

pdf icon

Irish Banking: Rediscovering Values for Rebuilding and Renewal

Ray Kinsella & Maurice Kinsella

April 2011

Introduction

This article explores the deconstruction of the Irish banking system. It discusses the ‘pressure points’ which are reshaping this system, and how these are likely to impact on the wider banking and financial community. This is an important issue in its own right because the constitutive purpose of banking is to support the wider economy, and especially job creation. But it is particularly timely to critique recent events and policies which in combination have served to subvert the development of modern Ireland.

That is hardly an overstatement. After all, the collapse of the Irish economy since 2007 has been on a scale that is unique among developed countries. Moreover, this collapse precipitated the intervention by the European Union (EU), in association with the International Monetary Fund (IMF), leading to a ‘bailout’ agreement that, in exchange for highly conditional financial support, effectively emasculates discretionary fiscal policy, as well as imposing very far-reaching cuts in living standards.

 

As a society, Ireland puts effort into remembering. Orchestrated campaigns have been launched for the “decade of commemorations,” as we mark the centenary of the decisive events, from the 1913 Lock-out to the cessation of the Civil War in 1923, that established modern Ireland. Yet right in the middle of that period, in 2018, we reach the landmark ten years since the end of the Celtic Tiger.’ Read full editorial

Working Notes is a journal published by the Jesuit Centre for Faith and Justice. The journal focuses on social, economic and theological analysis of Irish society. It has been produced since 1987.