Regardless that this is the Indo, it needs to be read! **The minister plans to take advantage of Irelands low borrowing costs on private markets to repay this money and save between €300m and €400m a year. **This has all been agreed with the IMF, but theres a snag. Noonan needs to get permission from our chums in the EU and the ECB for the deal to go ahead. **The deal wont actually cost them anything, or affect them in any material way, yet we still have to go crawling and begging for their permission. **.....cost of the bank bailout was €8,956 for every man, woman and child in Ireland, compared to an EU average of €191. **.....one TD, during a debate on the terms of the bailout in December 2010, to thunder: What legal or moral compulsion is on Ireland to honour in full debt incurred by Irish banks when there was no State involvement? It is obscene that liability for these loans is now being transferred to the Irish taxpayer, in many respects to the poorest of the Irish taxpayers. That TD was Michael Noonan, who rapidly jettisoned any of his previous concerns about the morality of foisting tens of billions of banking debt onto the shoulders of Irish people as soon as he entered Cabinet. **Irish politicians, the people who are supposed to represent our interests and fight our corner, appear happy to collude in this charade and roll over. If this is the best deal the Irish government can get, then it is not a victory. It is a failure.
Posted on: Thu, 11 Sep 2014 20:50:25 +0000
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