Tag: Brian Cowen

Five Years On – The Media’s Role in Ireland’s Financial Fall

(Originally published at Irishleftreview.org in October 2013)

With the five-year anniversary of the nationalising of the Irish banks having just passed us, one would think that at this stage we would have some answers. One would be wrong. Of course, much has been written about the topic in the years since. However, as much as we and the media enjoy blaming the elites of the world for what happened, the media also had a large role to play in the inflating the property bubble which has since burst and the consequences of which have hobbled the country. They toed the party line regarding property prices, and as a result, played an important propagandising role in the country. Whilst over the previous week there have been numerous articles written about the bank guarantee and the resulting economic downfall, as far as I am aware, nothing has been said about the media’s culpability. This is an important omission, but not entirely unsurprising.

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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.

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.

O’Donoghue Takes It All

(Originally Published on Corkstudentnews.com in February 2010)

We are now well into the New Year which has so far gotten underway with a bang in political terms. In the last few weeks we have seen the Budget Cuts coming into effect, the Blasphemy Law being enacted and more recently, the first of the so called “Toxic Loans” were transferred to NAMA. One event in particular though has gone rather suspiciously under-reported and that is the return of good old money bags himself, the now former Ceann Comhairle, John O’Donoghue.