Tag: Bank Bailout

Why We Are Where We Are

(Originally Published on Indymedia.ie in December 2010)

Throughout the history of the Irish state, Ireland was seen as an almost backwater of the Western World. It was a country literally and both metaphorically on the fringes of Europe with an economy which always seemed to be floundering in the doldrums. All of this changed in the nineties with the onset of the Celtic Tiger which was effectively brought about by low corporate taxes, an educated workforce and the low cost of wages. All of this led to a massive upturn in the economic fortunes of Ireland but when things should have naturally slowed down, those with political power ensured that the Celtic Tiger was extended beyond its natural lifespan by creating a bubble. The bubble in this case was a property bubble and like all bubbles in economic history, it was bound to burst. The government, and their associates in the banking industry and construction industry, did their best to try to convince people, not only in Ireland but also all across the world, that Ireland was the perfect economic model to follow. In reality it was all smoke and mirrors when in actual fact the entire economy was based on a lie; the need for more and more property. This lie, along with the cronyism at the very top of Irish politics, has led to the situation which we are now in where we are likely to default on our sovereign debt within the next 2 years.

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Economics Irish Style

(Originally Published on Indymedia.ie in November 2010)

The last week will be remembered in Ireland as one of the most tumultuous periods in Irish history. We are hurtling downwards at an ever increasing speed. Future generations of Irish people are to be burdened with the debt of the bankers and the entire Irish banking industry. What was once unthinkable is now likely to pass and all of this is down to the actions of the government and their friends. In the two years since the banking guarantee was enacted, there have been no major steps taken to sort out the financial mess that the banks have gotten the country into and now that problem is having its final and fatal effects on the future of the country; a political party with no mandate from the people is in the process of turning Ireland into a debt serving nation and nothing more. The leader of said party is doing nothing more than cling onto power for as long as he can in order to serve out his own agenda, whatever that may be, and no “hair shirt budget” is going to change the fact that Ireland is both an economic and political basket case.

The Art of Economic Misdirection

(Originally Published on Corkstudentnews.com in July 2010)

That’s it folks. Game over. Ireland Inc is well and truly on the way down. I have been rather sceptical of the country having the ability to weather the recessionary storm that has gripped us for the last 2 years but now the game is well and truly up. The government on the other hand seem intent on either ignoring the evidence or they are just too dumb to read all the signs. The former, and more insidious fact, is what I believe to be the truth. They are actively ignoring the evidentiary statistics and figures in order to complete their “doublethink” and attempt to enforce this on the public via the government media outlets and their representatives. We have been hearing over the last number of months about how the country “has turned the corner” or “is turning the corner” and that economic growth is projected for next year and the years to come.