Adams, McWilliams, call for referendum on asset-stripping country

  • David McWilliamsBefore we sell the country, We should ask The People: So let’s get things straight: the Irish citizen is being asked to take on the debts of the European banks and pay for this by selling our assets for half nothing to the same banks so that we can bail them out. We take on debts without a discount and sell assets without a premium. At the moment these loans that we are being asked to pay are trading at a deep, deep discount because the “assets” they were supposed to back have collapsed in value. Yet we are being asked to pay for these loans at par. At the same time, our crucial and profitable state utilities — like the ESB — will be sold at a discount because the buyers will know that the sellers are screwed. This is what is going on. An organised heist, which will play out in front of our eyes and reward the very investment banks that blew their own and their clients’ money on the promises of David Drumm and the like. Meanwhile, our politicians argue over the rate of interest, begging for crumbs when they should be fighting for us.
  • Sinn FéinAdams calls for referendum on bank bailout: The banking system is busted. Irish people cannot afford to pay the billions that the Fianna Fáil/Green Government and Labour and Fine Gael have agreed to. In four weeks time Anglo Irish and Irish Nationwide will be gifted another €30.6billion. That is €3billion each year for 10 years. Sinn Féin will not proceed with this bailout to the banks. But it is not too late. The banking system can be fixed. The economy can be regenerated. This requires jobs and not dig outs to toxic banks. Sinn Féin is calling for a consultative referendum on this issue. It burdens every citizen, our children, our grandchildren and our great grandchildren. The people should have their say. There should be a referendum.
This entry was posted in Accountability, Bankers' Bailout, Budget, Civil Rights & Liberties, Debt Default/Restructuring, ECB/IMF, Economy, Elections, EU, Housing Bubble, Ideology, ireland, Solutions and tagged , , . Bookmark the permalink.

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