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The Irish Bubble
national |
worker & community struggles and protests |
opinion/analysis
Friday December 17, 2010 10:22 by Paddy Hackett maxanger at live dot ie
Concerning the “deal between the Irish Government and the ECB/EU/IMF troika” Constantin Gurdgiev argues in the Sunday Independent, December 5th 2010, that far “from providing a resolution to Ireland’s financial and fiscal crises, it made the restructuring of our banks’ debt inevitable, Concerning the “deal between the Irish Government and the ECB/EU/IMF troika” Constantin Gurdgiev argues in the Sunday Independent, December 5th 2010, that far “from providing a resolution to Ireland’s financial and fiscal crises, it made the restructuring of our banks’ debt inevitable, no matter what the conditions underlying the deal says.” Gurdgiev has been one of the those analysts stridently calling for a large and significant part of the total surplus value owed by the Irish state and banks to be transferred abroad. There appear to be at at least three kinds of economic commentator occupying the public stage in Ireland at the moment. |
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Jump To Comment: 1 2 3 4I'm not sure how bourgeois I am, by your standards, but the system will have to to print money or we will default.
The hot news this Monday morning is that the ECB doesn't like the Banks Bill. How could that happen? It is published, it passes thru both houses of the Dail, McAleese considers referring it to the supreme court, and then - days later! - the ECB says it has "serious concerns" about it.
Hi Blazes
Printing money and defaulting mean, give or take, the same thing.
never mind the re-brand. Thats a bit like spending 7mn to give the ESB a makeover rename to get it more market-ready, just the first tranche in the evisceration.
They 'have serious concerns' that democratic accountability might interfere with the 'efficient workings of the market'.The ECB will serve the reich's project, which meshes currently with the Project for an American Century and under the NATO/UN brolly is consolidating the Euro/US imperial grip on the planet and its resources(who was it again, warned of the coming 'resource wars of the twenty-first century?'),pole to pole.
Back at the ranch, and McAleese convening the Council of State to consult on the constitutional ramifications:
Given that Brian Cowen was appointed by the tribunal-posse dodger Bertie when the kitchen started to fill with smoke, and that the government has a rating comparable to the thermometer readings at midnight in Birr, surely if she was covering her responsibility to PRESIDE over the democratic workings of our institutions, she should have called this council to consider the necessity for a general election BEFORE the recent budget, given the long-term consequences?Cowen&FFInc HAVE NO FUCKING MANDATE for this stitch-up. We're being ECB/IMFed on fast-track.
Banks will scratch banks' backs. Till they get the chance to swallow each other profitably.
Its the subversion of our corrupted representatives we need to rectify if we are to have other than cosmetic regulation of the 'invisible hand' of sub-prime bondage.
But, Paddy being Paddy, we'll probably buy the cosmetics. It seems, like kerrygold, to be 'part of what we are'. Sub-Prime patsies.
She is the appointee of the political class, last time around, and no doubt wants to leave smelling of roses. This little drama will be the visible test of how unsovereign the state has become; no room for PR / spin / optics this time.