Mend The Constitution

Pregnancy in the 26th week.

Over four thousand women from Ireland are known to have obtained an abortion in England or Wales last year, a figure that probably under-represents the true numbers significantly. Why are they having abortions abroad and not here?

If you could sum it up in a single word, that word would be “hypocrisy”.

We have a hypocritical Constitutional ban that has the effect not of preventing abortion, but of making it someone else’s problem. It allows us to pretend it hardly happens at all, that we live by higher ideals. In fact, we live a lie.

And oddly, to an extent it is not even our own hypocrisy. The amendment was the result of a manipulative campaign coming largely from overseas, particularly the British organisation SPUC, that intended to make Ireland a showcase for Conservative Christian values. They wanted to prove it was possible, despite the examples of the US, UK and most of Western Europe, for abortion to be banned in a country where women had a vote.

Yes, a clear majority disapproved of abortion. They don’t necessarily approve of enforced birth either though. Irish people are no strangers to moral complexity and contradiction, and even if doctrinal absolutes came easy in those post-Papal-visit days they would not have stayed that way for long. But the amendment to the constitution stifled that moral debate by rendering it pointless.

It still stifles it. Even now we are hung up – insanely – on whether a danger of suicide constitutes a legitimate threat to the life of a pregnant woman. Of course suicidal feelings are a real threat to life, but some want to pretend the danger away in case it is used as a pretext to give abortions to those who merely want them.

This is all mad. Why are we trying to force women to give birth when, for whatever reason, they do not want to give birth? Only remorseless ideology produces such inhumane law.

Ah but the unborn are people, you can’t kill them!

Except they are not. That is just a religious doctrine, a philosophical view, forced into our Constitution to make hypocrites of all of us. Who is to say at what point human life begins? We could leave the decision to priests, to doctors or scientists. But I think instead we should leave it up to the woman who has to bring that life into the world.

Who else’s decision should it be?

How The Euro Exploded, Part 1

Berlusconi-comizio
"I have no idea what I'm doing!"

Italian stock markets rally on rumours that Berlusconi may step down. That says everything really. Usually the forced resignation of a head of government sends the markets plummeting, as a country switches from general predictability into leaderless chaos. But it seems even leaderless chaos would be more relaxing than Silvio Berlusconi. You can actually calculate the millions he’s costing his country every minute he hangs on.

If he does go though, he will be the third national leader directly forced out by the financial crisis. I don’t think there’s been such a wave of regime change across Western Europe since 1968. How did it come to this – and to ask the question that everyone really wants answered, whose fault is it?

You can’t pinpoint a single cause in these things of course, but surprisingly I think we can narrow it down to just three:

Problem one: The credit boom. We’ve spoken of this before, but its origins can be traced back to the liberalisation of the US banking industry, and the creativity this consequently introduced into a previously staid profession. In particular, the creativity about what the term ‘asset’ means.

It’s always been quite acceptable to loan someone some money and then consider their promise to pay you back as an asset you own – as long as the value you give to that asset realistically reflects the risk of them not paying you back at all. Be unrealistic however, and you’re in trouble. Though many complex and obscure mechanisms were applied to the task, I don’t think it’s grossly oversimplifying to say the basic problem was that overvalued loans were used as collateral to raise more money, which was then turned into more overvalued loans, which were used to raise more money, which was… Et voilà, magic money from nowhere. Inevitably this reached the point where it was mutually profitable for everyone involved to overvalue the loans they were all giving to each other.

This free money fountain naturally encouraged borrowing throughout the US and Europe, and indeed about everywhere with access to currency markets. The first I knew something had gone badly wrong was when I got a letter from my bank telling me I’d been ‘pre-approved’ for a loan I hadn’t asked for. I’m a freelance artist for God’s sake. When banks go round pushing loans on poor people, the Emperor is out waving his dangly bits to a cheering audience.

But it wasn’t just private borrowing that got out of control. Countries too found credit temptingly cheap. What’s more, easy credit helped fuel a consumption boom, which upped tax revenues, which encouraged governments to ease off rates and make more promises. The problem is that largely fictitious revenues can dematerialise overnight.  Public borrowings and spending commitments on the other hand are not so easily gotten rid of.

This though merely sets the global scene; in Europe specifically there was further trouble brewing. To follow…