A sterling idea to save Republic:

TPQ regular Dr John Coulter, in his Irish Daily Star column, argues that a 'Skint South should ditch the EU and rejoin Commonwealth'. It first featured on the 17th June 2013.

Pray for the mother of all rows at the G8 conference which kicks off in Fermanagh this morning so that Ireland can tell the European Union to bog off and rejoin the Commonwealth.

The South cannot keep surviving on Brit handouts after the latest rumours that Northern taxpayers will have to be part of the latest £10 billion back-door bailout to save the failing Ulster Bank, which operates mainly in the Republic.

Nationalists and Republicans must face a very bitter reality. Both the EU and the euro are messed up and it's time to ditch both, reintroduce sterling and get back into bed politically with the Brits.

But the multi-billion pound question is, how does the South get out of the EU and into the influential Commonwealth Parliamentary Association?

It's all very well pro-Union campaigners mouthing off about the Republic rejoining the Commonwealth, but how can this aspiration become a reality?

This is almost a mirror image of republicans ranting about a united Ireland by 2016, but have not a clue as to how to achieve this.

Economically, there is a stronger chance of the Occupied 26 Counties rejoining the Commonwealth, rather than the Occupied Six Counties joining the Republic.

Here's Coulter's Coup guidelines for the former. First, Brit Premier Dandy Dave Cameron starts a verbal slagging match with German Chancellor Angela Merkel.

She is the boss of the G8's internal Gang of Three along with French President Francois Hollande and Italian Prime Minister Enrico Letta.

The Gang of Three are staunch EU fans. What Cameron has to do is drive a wedge between the Gang of Three and the other G8 leaders over future investment in the EU.

Cameron is also under intense pressure from euro-sceptics in his own Tory party and from the rapidly growing anti-EU UKIP movement. With a referendum on Britain's EU membership on the cards, it's like the outcome that UK voters will plump to leave the EU.

Cameron must argue that 'enough is enough' in terms of bleeding the UK dry providing bail-out cash to eurozone nations in deep crisis, such as Ireland and Greece.

There's no way the other G8 nations will pump cash into helping the eurozone, so Dandy Dave can rely on the support of Japan's Shinzo Abe, Canada's Stephen Harper, America's Barrack Obama, and crucially, the former KGB hard nut, Russia President Vladimir Putin.

For the next 48 hours, Fermanagh could well become a verbal battlefield between Merkel's called G3 and Cameron's G5.

If Cameron can use Fermanagh to wind up Merkel, Hollande and Letta to letting off steam against the UK, it will result in either the pro-EU Gang of Three telling the UK to bog off, or Cameron telling the trio that the UK has no other option but to tell the EU to get lost.

If Britain leaves the EU, Ireland will have to follow soon after. The influential CPA has more than 50 regional and national parliaments to its name, many part of the old British Empire.

Ireland was a founder member of the original Empire Parliamentary Association in 1911 when the island was under British rule.

A G8 showdown will ultimately strengthen the Good Friday Agreement. Ireland, north and south, can either become a hunted wee fish in the vast EU ocean, or a major economic whale in the CPA pond.

With Russian, Japanese and American investment, the CPA deal can work for Ireland. The question is, do Irish politicians have the guts to starting putting people first for a change?

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