1 November 2011
Stop bankrupting the Irish people!
The decision of the present Government to continue to pay all the debts incurred by the Irish banks that the previous Government socialised is a scandal beyond belief.
While in opposition the then opposition parties, Fine Gael and the Labour Party, rightly criticised the Government for paying unsecured bond-holders, as it was hurting the old, the sick, children, and those depending on social welfare.
Yet over the next day or so they will hand over $1 billion to unsecured bond-holders. These secondary bond-holders—“ground feeders”—have purchased these bonds at a small fraction of their value and will now receive in payment the full amount outstanding.
This is a sum that could build and fit out the new children’s hospital. It would also go a long way towards developing our natural resources under public ownership and control.
This transfer of wealth from the people to banking corporations and individuals must end now.
The people must be given the same right as the people of Greece. We demand a referendum on the bank bail-out!
Repudiate the debt campaign
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