Telegraph: Banker’s Bailout is Irish Debt Servitude


Decent Brit Alert: Ambrose Evans-Pritchard, International Business Editor of the Telegraph, London, writes:

Stripped to its essentials, the €85bn package imposed on Ireland by the Eurogroup and the European Central Bank is a bail-out for improvident British, German, Dutch, and Belgian bankers and creditors.

The Irish taxpayers carry the full burden, and deplete what remains of their reserve pension fund to cover a quarter of the cost.

This arrangement – I am not going to grace it with the term deal – was announced in Brussels before the elected Taoiseach of Ireland had been able to tell his own people what their fate would be.

Read more.

Poor Éamon DeValera must be turning in his grave. Is this pathetic state really what the Soldiers of Destiny have been reduced to?

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