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Press release on protest against bondholder bail out.

category cork | anti-capitalism | press release author Monday October 31, 2011 22:50author by Eoghan McMahon - Occupy Corkauthor email occupycork at gmail dot comauthor address Peace Park, South Mall, Cork City. Report this post to the editors

OccupyCork protests bailout

Occupy Cork is holding a 'reverse bank robbery' to highlight the overnments signing off on a $1 billion bond, on behalf of the now defunct Anglo Irish Bank. Article lists details of the protest, quotes from activists and contact details.

Press Statement: Protest against the $1 billion Anglo Irish bond

At noon this Tuesday (1/11/11), Occupy Cork are organising a ‘reverse bank robbery’ on behalf of the Irish government. This is to highlight the transfer of taxpayers’ money to unknown financial institutions, through the $1 billion Anglo Irish bond which is being signed off on this Wednesday (http://bondwatchireland.blogspot.com/ for details).

Taking a “cheque” (see attachment) for $1 billion from City Hall on Anglesea Street, the four robbers will be visiting some of the worst offending financial institutions on their route. They will then finish their get-away at Bank of Ireland on St.Patrick’s Street.

St.John Ó Donnabháin from Occupy Cork stated - “We at Occupy Cork are protesting against the government’s signing off of an unsecured bond, on behalf of the now defunct Anglo Irish Bank. This is a scandalous waste of taxpayers’ money – we are essentially paying a bad gambling debt for the banks. We shouldn’t be paying this debt, we can’t pay this debt.”

He further added -“We believe that the current policy of the Irish government is firstly, economically unsustainable in the long run, and secondly, morally unjustifiable”.

The Occupy movement worldwide has tried to highlight some of the blatant corruption which has occured and is still occuring throughout our financial systems. In Ireland, the most blatant example of this is the bank bailout, and the socialisation of private losses. This action is part of a greater campaign in Ireland to highlight this unsustainable financial policy, with other actions happening in Dublin on Tuesday and in Galway on Wednesday.


 

For more information on Occupy Cork, please read our position statement at –

http://corkindependent.com/blog/author/occupycork/

Related Link: http://corkindependent.com/blog/author/occupycork/

PDF Document Cheque from the people to international finance 0.84 Mb

author by authorpublication date Wed Nov 02, 2011 22:31author address author phone Report this post to the editors

a financial speculator who bought a million Anglo bonds for €600k during the summer is getting €1 million from the Irish government today – a 66% profit.

 
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