Tag: Bailout

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Is There One Brave TD?

Ballyhea
Click here to see me on Al Jazeera News! (Albeit briefly)

 

It’s often remarked how little Irish people are protesting, despite the cruelty of the cutbacks and the blatant injustice of much of the debt foisted upon us. You could come up with a variety of deep psychological explanations for this, but in doing so you might be overlooking one major factor: The lousy coverage that public resistance gets in the mainstream media.

Case in point, the brave folk of the Ballyhea Bondholder Bailout Protest have been marching every Sunday for two years now. But even when they brought their protest to the ECB in Frankfurt (you’ll remember, I went with them) they hardly won a mention from the press or TV.

Until last Sunday! Finally, they got on RTÉ main evening news. Why now all of a sudden? I think I know: Al Jazeera got wind of it. Would’ve been more than a little embarrassing for the national broadcaster if a story from their own country went big internationally and they didn’t even have footage.

You can see me there in the first few seconds. I’m on international TV! Don’t we look all brave in the January weather? In the Middle East they must think we’re downright superhuman.

But there are ways you can protest without risking pneumonia, with help of Contact.it. Yesterday a judge rejected a challenge to the legality of the government piping money directly from poor to rich, on the grounds that a private citizen does not (somehow) have the standing to take such a case. In his findings though, the judge did mention that a TD would.

So we’re looking for one brave TD. Contact.ie provide an email that will be sent to all of them, it’s just up to you to sign it. A suggested text is provided, but of course you can use your own.

Or you can use the one I wrote, which puts the case a little more starkly:

Dear TD,

We need someone to take a stand. The lending bubble, and subsequent channelling of the nation’s remaining wealth to the very institutions responsible for it, has sent one message and one message only to the people of this country: That we exist, that we live and work, not for ourselves or for the ones we love but purely for the further enrichment of these institutions and their owners; that they now effectively control our lives – and control you, our supposed representatives – as surely as if we were goods or livestock. We are being owned.

We need to reassert the purpose – indeed the existence – of democratic government. For once, a single TD could make all the difference.

Yours sincerely,

Help to stop the madness before the last of this country’s life is sucked away. You can send the letter here.

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The Pain In Spain

IMF Managing Director Dominique Strauss-Kahn (...
So I said "How about this for fiscal rectitude"'

So protestors march by, chanting that Ireland is in solidarity with Spain against the EU-IMF bailout. Wait – don’t you usually express solidarity with someone in their troubles, not your own? That’s a bit like shaking hands with a mourner at a funeral and telling them your car needs a new clutch.

But I am qibbling over a choice of words. It is good that people are at least protesting, whether it be against the Spanish government’s cuts, our own bailout conditions, or – to go for the common thread – the destructive role that the financial industry now plays in western economies. Perhaps it will even make the news. Second or third item after after the nation waving a tearful goodbye to her majesty Queen Elizabeth.

Wouldn’t want to spoil that image of us quietly taking the fiscal punishment we deserve.

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The 360° Revolution

360 CartoonIt is finally, officially, over. And no more damning political verdict has ever been rendered in the history of this or many another country. Even the pro-union vote in 1918 was larger. It’s shocking that they got seventeen percent, that thousands were still ready to put their party before their country. This kind of unthinking loyalty is like a set of shackles on Irish politics. But perhaps it is broken now.

So I am torn between expressing relief at having thrown off the worse government we have ever had, and lamenting the fact that we have given a mandate to a party whose ideology and economic approach are so similar that it takes at least an hour to explain to interested foreigners why they are separate parties at all. It is a hell of an anticlimax, and frankly I am a little depressed. (Though the fact that I got about one night’s worth of sleep during the whole count probably isn’t helping there.) Was all that anger just for this, all that upheaval to deliver no change? Have we had a 360 degree revolution?

There is only one real advantage. The new administration will not have been busy sharing the good times with the rich and the powerful – well, not for fourteen years anyway. This will make them somewhat more disinterested and honest. But it’s not as if they’re chosen from a whole other class of innocent outsiders. Their interests are not the interests of the average person, and certainly not the interests of the poorer person. For Christ’s sake, the chairman of Anglo Irish is a former leader of Fine Gael. Didn’t anybody think that might be a bit of a bad sign?

But Kenny must get his one hundred days or whatever is the suitably polite interval, his chance to come up with a brilliant solution to escape the chains the last government left us in. Can he?

No. Sure he’s going to renegotiate the bailout deal. But by that he means begging for a slightly lower interest rate. That is not a negotiating position. A slightly lower interest rate on a debt we will never be able to pay back anyway, that is going to crush our economy back to 1940s levels? That is not an improvement of the situation. It’s an avoidance of reality.

What would I say to a meeting of Eurozone heads of state? What would you say?

“We cannot afford to borrow money to pay debts unjustly created for us by a previous, corrupt government. Indeed we cannot afford to borrow enough money for even the minimum necessary level of public expenditure, at this or any interest rate. Therefore we will pay ourselves in our own currency. In other words, we’re leaving the euro. This will be painful for us, what with soaring import prices, but the euro will almost certainly collapse so it will be even more painful for you. Sorry, but it’s that or we sacrifice the health, future, lives of our people in order to reward the selfish and greedy actions of a ludicrously wealthy banking industry.”

That is a negotiating position.

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