REPUDIATE THE DEBT CAMPAIGN
25 September 2011
An elite completely out of touch
Congratulations to the twenty-seven members of both houses of the Oireachtas for their letter (Irish Times, 23 September) calling for a referendum on the European Stability Mechanism, which, if enacted, would create a permanent euro-zone fund and plunge this state deeper into debt.
Under the proposed ESM, this bankrupt state of ours would “irrevocably and unconditionally” contribute €11 billion to the ESM when it is established in 2013. It is also most probable that additional funds will need to be handed over when contributions come up for regular review. No doubt we will borrow this from the same banks to which we already owe about €300 billion.
In their letter they also state that “weaker economies like Ireland would have to put up cash immediately to cover any shortfall of paid in capital that might arise,” while Germany and France would be able to fulfil their obligations by way of a “guarantee.”
The ESM will give priority to the stability of the euro above everything else. No matter what type or make-up of government the citizens of member-states or the Irish people elect, they have no other choice but to give priority to the “stability of the euro area.” Democracy has been turned on its head.
The cliques who run both the EU and this state of ours have clearly lost touch with the daily reality faced by tens of millions of people in the peripheral countries, whose lives and very existence have been turned into a nightmare in order to pay off private corporate debts assumed by their governments without the consent of their people.
Lewis Carroll could not have dreamed up this kind of skewed view of the world in his wildest fantasies. Alice in Wonderland has nothing on these people.
Eoghan O'Neill
Co-ordonator
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I totally agree with Eoghan.
ReplyDeleteAs far as I can see, the two People Before Profit TD's Richard Boyd-Barrett and Joan Collins are not among the signatories to this letter.
Both are sponsors of the "enough campaign". The "enough campaign" is supposedly opposed to the debt. What a shame! Hope this was just an oversight and not a sign of trouble in that camp.
Now, more than ever, we need unity of action among all progressive forces!