The Bank Bail-Out Is Costing Us Far Too Much

by anon Thu May 19, 2011 21:52

In a interview with Hot Press, Bono has given his support to the referendum on the bailout. Traditionally Bono tried to put a pleasant face on the system by his years spent befriending world leaders and trying to get them to do nice things. But usually in the end his efforts have not worked simply because he does not appear to recognise the beast he faces.

It the report linked to below he says having to accept a bailout is an “affront” to Irish people and should be put to a plebiscite election.
Having to take on the debts of private enterprise is “an affront – that is an injustice to the Irish people,” he tells Olaf Tyaransen.

“It would be a very sophisticated thing indeed should the Irish people demand a chance to debate and argue, and finally decide themselves, on what will in the end be a decision that will affect their children and grandchildren.”

by W. Finnerty Mon Apr 11, 2011 07:26

"Voters in Iceland have rejected a government-backed deal to repay Britain and the Netherlands for their citizens' five billion US dollars (£3 billion) worth of deposits in a failed online bank, referendum results showed - sending the dispute to an international court and plunging the economically fragile country into new uncertainty."

"The result reflects Icelanders' anger at having to pay for the excesses of their bankers, and complicates the country's recovery from economic meltdown."

"It is the second time voters have defeated a bid to settle the bitter dispute stemming from the collapse of Iceland's high-flying banking sector in 2008."

The three excerpts above have been copied from a Press Association article at the following www location:
http://www.google.com/hostednews/ukpress/article/ALeqM5...6477A

by Citizen Wed Apr 06, 2011 14:59

richard talks a little about this on vincent browne show last night (05/04/2011)
should be available on the tv3 site
he also gets harangued by a so called "neutral" independent journalist

by T Wed Apr 06, 2011 14:46

There was a very big and enthusatic turnout to the meeting last night and all of the speakers were good. What was most interesting is that the Icelandic MP Lilja Mósesdóttir revealed that when Iceland rejected their deal the sky didn't fall in and indeed the IMF came back with a lower interest rate. And then they rejected the second deal and still the IMF came back with an even better deal. And now the Icelandics people have no intention on paying that back either.

What was also interesting is that it was mentioned Ecuador had a "debt audit" where they reviewed their debt and decided what was legitmate and what wasn't. Again investors did not flee Ecuador and people are still lending them money today. In fact the Ecuadorian economy is now booming because they have lifted the debt burden which wasn't theirs off their backs.

At end of the meeting there were a number of votes taken and it was agreed to launch an official campaign to demand a referendum on the EU/IMF bailout. In the next few weeks meetings will be setup around the country and people are encouraged to get started themselves and get the ball rolling.

Richard Boyd Barret has offered his Oireachtas (Dail) office as a coordination point so that people can contact the campaign and work out things through that.

The new campaign is to be called: Enough !.

by The long shadow. - None.. Wed Apr 06, 2011 13:47

The idea of a referendum is an excellent one and deserves support.
It is important that this serious issue for our Country is dealt with head on.

However

I feel that the following TDS among those calling for a referendum have some cheek!!

Shane Ross as a stockbroker/ cheerleader was one of the original economic boom town rats and has very little credibility on this issue
Independent Finian Mc Grath supported the original bailout in 2008and advised us at the time to "put on the green jersey" . With his record on referenda- opposing Lisbon 1 and supporting Lisbon 2 within a year he will sniff the breeze to see which way the wind is blowing and act in his own populist interest at the time.