YES
· Jordan Rowe
The UK is Ireland’s main trading partner by a mile - more so than the rest of the EU put together. By allowing the Irish economy to collapse, the UK would suffer too. Added to this, we can’t forget how much the Northern Irish economy depends on the Republic. By not loaning Ireland the £7bn, the UK would be damaging a relationship, not just with our neighbour but with the whole of Europe. Ireland owes British banks £140bn. If we stood by and let them collapse, RBS, which is owned by the taxpayer, may very well go in the same direction. We wouldn’t be able to sustain another banking crisis.
NO
· Myfanwy Hughes
Bailing out the Irish sets a dangerous precedent for British involvement in EU bailouts. If we are willing to extend a hand to our Irish neighbours, the floodgates begin to open for the next nation in crisis which judging by the state of things, looks like Portugal or Spain. Can Britain afford all this? Let’s look back at 2008 when Britain loaned Iceland approximately £2.2 billion to help stabilise its economy. This year, our government and the Dutch asked for £3.4 billion in compensation. What did we get? Nothing; as an overwhelming amount of Icelandic voters chose 'No' in a referendum proposal to compensate us. Can we really afford another repeat of this?
