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The Saker
A bird's eye view of the vineyard

offsite link Foreign Ministry Statement on the interstate claim brought by Russia against Ukraine with the Europe... Fri Jul 23, 2021 12:22 | amarynth
https://www.mid.ru/en/forei... On July 22, 2021, the Russian Federation filed an interstate complaint against Ukraine to the European Court of Human Rights (ECHR) invoking Article 33 of the Convention for the

offsite link Moveable Feast Cafe 2021/07/23 ? Open Thread Fri Jul 23, 2021 08:00 | Herb Swanson
2021/07/23 07:00:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The Russian Federation has filed an interstate complaint against Ukraine with the European Court of ... Thu Jul 22, 2021 23:04 | amarynth
Prosecutor General’s Office Of the Russian Federation July 22, 2021, 10:30 am On July 22, 2021, the Russian Federation filed an interstate complaint with the European Court of Human Rights

offsite link Many interesting developments in Russia Thu Jul 22, 2021 01:00 | The Saker
[this column was written for the Unz Review] The past week has been quite intense in Russia – lots of interesting developments took place, and today I will mention three:

offsite link The Empire is throwing in the towel on North Stream 2 Wed Jul 21, 2021 22:17 | The Saker
This was expected for quite a while now, but nonetheless, this is huge news: the Biden Admin has given up on US plans to prevent the NS2 from being completed. 

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Youth power – Don’t ask – Take

offsite link When the establishment betrays the people?s trust Anthony

offsite link The day Eoghan Harris went bad Anthony

offsite link Declining standards in Irish journalism Anthony

offsite link Mainstream media: Failing to speak truth to power Anthony

Public Inquiry >>

Human Rights in Ireland
A Blog About Human Rights

offsite link 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

offsite link Turkish President Calls On Greece To Comply With Human Rights on Syrian Refugee Issues Wed Mar 04, 2020 17:58 | Human Rights

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link University Union Calls for Full Vaccination of All Students by September and Continuation of Mask-We... Fri Jul 23, 2021 12:47 | Michael Curzon
The University and College Union, still unconvinced that it is safe for university life to return to normal, demands that all students are fully vaccinated by September and that mask mandates continue on campuses.
The post University Union Calls for Full Vaccination of All Students by September and Continuation of Mask-Wearing on Campus appeared first on The Daily Sceptic.

offsite link Only 1.6% of Schoolchildren Forced to Self-Isolate For 10 Days Went on to Develop Covid Fri Jul 23, 2021 11:20 | Toby Young
A new study out of Oxford has found that of the one million schoolchildren sent home and forced to self-isolate for 10 days every week last term, 98.4% did not go on to develop Covid. Totally unnecessary in other words.
The post Only 1.6% of Schoolchildren Forced to Self-Isolate For 10 Days Went on to Develop Covid appeared first on The Daily Sceptic.

offsite link Domestic Holiday Industry Hit by Staff Shortages at Start of Crucial Season Fri Jul 23, 2021 11:02 | Michael Curzon
The domestic holiday industry was relying on this crucial summer season to make up for losses from the past year. But hotels, theatres and cafes are being forced to close due to staff shortages caused by the "pingdemic".
The post Domestic Holiday Industry Hit by Staff Shortages at Start of Crucial Season appeared first on The Daily Sceptic.

offsite link Why is This Government so Wedded to the Ruinously Expensive and Completely Useless Test and Trace Pr... Fri Jul 23, 2021 10:55 | Toby Young
We're publishing a guest post on the Daily Sceptic by David McGrogan, Associate Professor of Law at Northumbria Law School, about why Boris has spent £37b on the useless Test and Trace programme. Answer? Vanity and hubris.
The post Why is This Government so Wedded to the Ruinously Expensive and Completely Useless Test and Trace Programme? appeared first on The Daily Sceptic.

offsite link News Round-Up Fri Jul 23, 2021 01:51 | Toby Young
A summary of all the most interesting stories that have appeared about the virus in the past 24 hours ? not just in Britain, but around the world.
The post News Round-Up appeared first on The Daily Sceptic.

Lockdown Skeptics >>

A Banking Union - out of the frying pan; into the fire

category national | eu | opinion/analysis author Wednesday December 18, 2013 20:33author by O. O'C. - The Peoples' Movementauthor phone 086 3150301 Report this post to the editors

The bulk of the Irish elite are sleep walking the country into an Eurozone banking union

“Ireland holds the undesirable position of being the only country currently undergoing a banking crisis that features among the top-ten of costliest banking crises along all three dimensions [..fiscal cost, increase in debt and output loss..], making it the costliest banking crisis in advanced economies since at least the Great Depression. And the crisis in Ireland is still ongoing”
(Laeven and Valencia, 2012: 19-20)

“That in what pertains to the control of credit the constant and predominant aim shall be the welfare of the people as a whole”
Bunreacht na hÉireann, Article 45, Directive Principles of Social Policy

The bulk of the Irish elite are sleep walking the country into an Eurozone banking union. A European Council meeting on 19th and 20th December is expected to take significant steps towards the creation of this union which has been correctly described as the most significant step in EU integration since the introduction of the Euro.

Such a union would mean that control of banks and banking would be shifted to the supranational level so that big banks in the big EU countries could more easily gobble up the small banks in the smaller, while simultaneously taking another step on the road to fiscal and political union. Having given up the power to issue money by joining the Eurozone, advocates of banking union would pass control of credit in Ireland to banks outside the country.

An Eurozone banking union would progressively deprive national states of the ability to make banking and credit creation serve national developmental goals. It would make it impossible to insist that Irish banks should subscribe to its State debt.

Irish people do not need to be educated about the fact that we live under a system in which the interests of peoples and states are subordinated to those of bankers by the bulk of national politicians. This is now manifest in an immense burden of debt which now rests on governments, private citizens and business firms in countries such as Ireland. This situation has not altered by the country’s exit from the Troika programme.

Low-income workers, for instance, are heavily concerned about pensions, savings, and insurance. The burden of debt - both mortgage and personal - has become a permanent fixture of modern life. Meanwhile, inequality has been exacerbated by bankers and financiers earning astronomical incomes while the costs of crisis continues as a burden on society.

The crisis has been a systemic upheaval rather than just the result of poor regulation, or of speculative excesses of finance. It was a crisis of financialised capitalism. Thus it will not be solved by the creation of a Banking Union. The traditional role of the capitalist financial system is to support development by mobilising loanable capital, which is then advanced to industrial enterprises. Contemporary finance mobilises idle money across society to earn a large part of its profits by concentrating on financial transactions or lending to individual workers. Under financialisation the circulation of money penetrates into every niche, even the most minor, of social and personal life. Banks have transformed themselves. They have rebalanced their lending toward individuals; they have also turned to fees and commissions from operating in open financial markets, rather than earning interest from outright lending. Thus, banks have added investment banking to their usual commercial banking activities.

Meanwhile, public provision in pensions, housing, education, health, and so on, has retreated, forcing people to seek private provision from banks and other financial institutions. Attitudes to debt and private financial gain have also changed, encouraging workers to borrow as well as get caught in housing bubbles.
Also large corporations in Ireland and more generally have been financing investment largely out of retained profits, while also being able to obtain external finance in open markets. They have become less dependent on banks; indeed, they possess independent capacity to engage in financial operations for their own profit. Small and medium sized businesses have not had this facility.

Rethinking the financial system is an urgent systemic and political task for what is left of Irish Democracy. Given the financialisation of our economies reorganising finance could have major ramifications for both economy and society. There could be immediate benefits for workers and others in terms of employment, housing, education, health and consumption. More broadly, finance could be restructured in ways that facilitate greater popular control, thus helping the struggle to transform the economy in a progressive direction.

It is glaringly obvious that democracy is absent from the financial sphere, with financial institutions being based on unbridled greed. The results for society have been catastrophic. A Banking Union would perpetuate this state of affairs rather than laying the basis for a progressive and humane alternative. As such it should be vigorously opposed.

Kevin McCorry

http://www.people.ie/news/PN-95.pdf

Related Link: http://www.irishreferendum.org


Caption: Ireland into EEC Exhibition; 10 min feature on CPTV


Caption: http://vimeo.com/79633725 The opening day of the Peoples Movement exhibition, Ireland into the EEC: The 1972 Debate. The exhibition has displays of pro and anti EU publicity materials stretching back over three decades.

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