The Bank Bail-Out Is Costing Us Far Too Much

national | rights, freedoms and repression | event notice Friday April 01, 2011 22:43 by T

NO MORE BAILOUTS - SCRAP THE IMF-EU DEAL - 2 EVENTS

Call for a Referendum on the IMF/EU Deal

Open Meeting - Tues 5th April 8pm
Gresham Hotel O'Connell St, Dublin 1.

Special Guest Speaker
Lilja Mósesdóttir
MP from Iceland

SPEAKERS:

Mick Wallace, Independent TD,
Richard Boyd Barret, People Before Profit TD
plus Andy Story (Afri & UCD Lecturer)
Rita Fagan (Community Activits)
Jimmy Kelly (Regional Sec, UNITE)

2nd Event DEMONSTRATION at the Dail at 6pm on Kildare St, Weds 6th April

NO MORE BAILOUTS - SCRAP THE IMF-EU DEAL

DEMAND A REFERENDUM

Once again Irish people are being forced to cough up for the crimes of bankers and speculators. The recent stress tests mean a further €18 to €23 billion cash is needed for Irish banks. This is on top of the €46 billion already committed.

Despite talk of 'burden sharing' and even 'burning the bondholders', the Fine Gael-Labour government is following the exact same strategy as Fianna Fail and pouring billions into the banks and implementing the EU-IMF deal that insists that the banks are re-capitalised.

In order to fund this enormous bailout the Irish state agreed a deal with the IMF and the EU that will see a devasting cuts package of €15 billion to social welfarfe, health and education; a massive fire sale of state assets; hundreds of thousands of young people emigrating; home repossessions and tens of thousands of job losess.

EU treaties signed by this country with arguably far less grave or immediate effects for our economy and society than the EU-IMF package have been put to referendum.

Some claim that the IMF and the EU are trying to help Ireland out and that without their support the ATM machines would have no money or that the state could not pay social welfare. These scare stories conceal the real purpose behind the deal which is to force Irish workers to pay for the private debts' of Irish and European bankers and speculators.

If Fine Gael and Labour are permitted to continue with this failed policy the country will be ruined for decades to come. The majority of Irish people are opposed to this EU-IMF deal but have been denied any real say.

Last year the people of Iceland demanded the right to have a referendum on their IMF deal and in March 2010 a massive 93 percent of the people rejected the deal. There is an overwhelming democratic case for putting an agreement with such profound implications for the economic and social future of our country to a referendum of the people

It is time we stood up for our democratic rights:

• Demand a referendum on the deal so that the people can democratically decide.
• Not another penny into the bankis - we will not pay the gambling debts of bankers and speculators
• call a halt now to the cuts being imposed by the IMF-EU deal