The bank guarantee that bankrupted Ireland, and the solution staring everyone in the faceSubmitted by Bob-45 on Sat, 11/02/2013 - 20:57
Web of Debt
Sat, 02 Nov 2013 14:22 CDT
The Irish have a long history of being tyrannized, exploited, and oppressed - from the forced conversion to Christianity in the Dark Ages, to slave trading of the natives in the 15th and 16th centuries, to the mid-nineteenth century "potato famine" that was really a holocaust. The British got Ireland's food exports, while at least one million Irish died from starvation and related diseases, and another million or more emigrated.
Today, Ireland is under a different sort of tyranny, one imposed by the banks and the troika - the EU, ECB and IMF. The oppressors have demanded austerity and more austerity, forcing the public to pick up the tab for bills incurred by profligate private bankers.
The official unemployment rate is 13.5% - up from 5% in 2006 - and this figure does not take into account the mass emigration of Ireland's young people in search of better opportunities abroad. Job loss and a flood of foreclosures are leading to suicides. A raft of new taxes and charges has been sold as necessary to reduce the deficit, but they are simply a backdoor bailout of the banks.