[Marxism] Ireland's second bailout
jmcanulty at tiscali.co.uk
Mon Feb 18 16:03:59 MST 2013
The deal that wasn't - Ireland enters its second bailout
12 February 2013
A night of chaos on Wednesday 6th February
in the Irish Dail was justified by unsupported claims of a press leak.
It was however strongly reminiscent of the scenes in 2008 when the
previous government mortgaged Ireland to bail out the banks and
concluded with the Fine Gael and Labour coalition voting through a
draconian piece of legislation. The legislation liquidated the Irish
Bank Resolution Corporation (IBRC), holding the promissory note
guaranteeing the debts of Anglo-Irish bank an Irish Nationwide. The
vote was taken after TDs were given 10 minutes to read the 68 page
The chaotic vote was followed the next day by scenes of
jubilation and triumph on the government benches. "We have a deal!"
announced Taoiseach Enda Kenny to thunderous applause. In fact the
“deal” – actually an internal debt restructuring – simply underlined
the historical bankruptcy of Irish capital and its utter dependence on
the imperialist powers.
full article at http://www.socialistdemocracy.org/RecentArticles/RecentTheDealThatWasnt.html
More information about the Marxism