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Periscope by Niall O'Dowd

Emigrant planes await the young Irish --their futures mortgaged away by corrupt bankers

Posted on Sunday, November 28, 2010 at 06:45 PM

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We now know that the Irish government has agreed to put a total of $90 billion into Irish banks to try and keep them afloat.

In the process they have sunk the future for a young generation of Irish

This is money that the Irish taxpayer must repay, money that will betaken from the next generation.

Brian Lucey, associate professor of finance at Trinity College Dublin told The Guardian he was "stunned",about the amount that will be invested to make the banks solvent adding: "We've already put at least $42bn into them, so that's going to be $90bn, which is 50% of GNP, that's a world record."

And we don't even know if the Irish taxpayer will be finished with them then.

It is a catastrophe.

What has the Irish government done, mortgaging the future of its children in such an incredible manner?

There were two other related stories this weekend.

One was the announcement by Tasmania, an Australian island that they were open for Irish immigration.

In a previous life Tasmania was Van Diemen's Land where Irish political leaders were transported to. It was an isolated god forsaken place then and is still very isolated now.

But another generation will now be banished to Van Diemen's land, involuntary exile from their own country like O'Reilly and Thomas Francis Meagher and William Smith O'Brien before them.

The other was straight talking businessman Denis Brosnan telling Irish young people to get out of the country while they can.

"You're not going to find jobs in this country for the next four or five years," Brosnan told the Sunday Independent

"So you can do two things -- you can go for further education if your parents or somebody else can keep you there. But if you can't, just go and emigrate because there are no jobs here. It's a very sad thing to have to say.

It is a heartbreaking and very sad thing to say Mr. Brosnan and the people who frittered away the hopes and dreams of the next generation should be made pay, the bankers by jail and the politicians by being turfed out of office.

No hope of the former, lots of hope of the latter I'd say.

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sirpeter | Dec 12, 2010, 10:35 PM EST

BigFellar ...Crap..It has never been the the best and brightest that leave Ireland.The best and brightest are the ones that get the jobs here.The surplus are the ones going.The ones that can't get a job.

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gaillimh | Dec 07, 2010, 08:35 PM EST

Everyone seems to miss one or two simple facts : the standard visa to Australia is one, sometimes two, years, and as i understand, it is very difficult to extend it and/or to remain there without a visa. Either way you are not going to make much money in two years--if that is your aim to begin with; nor will you experience too much of the culture as you'd better stay in the job you get {if u get one} as there isn't a lot to go around there either. A temporary and sorrowful escape valve, at best, for the low life politicians in Ireland who should be hanged-at the least; - wishful thinking I know. Also, 16 or 17 existing TD's are bailing out at the next election--set for the end of january- so they can avail of massive pensions before they, the pensions, are reduced- like Dermot Ahern is doing. This is absurd as is the fact that the Taoiseach {prime minister for u wasp wannabes who dont know any Gaelic} makes more than the president of the USA. What a bunch of thugs who think they were elected to abuse the system-like taking trips all over the world, literally, on ST Patrick's day, and every other day for that matter. Just as bad, and worse really, are the local county councillors especially the county Clare councillors, who should be named and shamed, and who went to South Africa a few years ago with all of their spouses and when they came back said, instead of apologising, they were entitled to do it. Up the banner {Clare} how are u! These bannermen and women's names should be posted all over the net and then they should be literally thrown in the good old river Shannon and I mean that. Not much hope there if u ask me--i didn't say no hope; but it will take a Paraic Pearse or Sean Lemass to bring Ireland back from the brink which I believe is achievable in 5 to 10 years le cunamh DE.

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BigFellar | Dec 04, 2010, 09:54 AM EST

History clearly shows over the past centuries in bad economic times most of the best, brightest and ambitious young Irish will emigrate to seek their fortune elsewhere. While the lesser fearful ones will stay home in Ireland tied to the apron string or the sinking Nanny State. History is about to repeat itself but the opportunities abroad are drying up.

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spailpeen | Dec 02, 2010, 01:42 AM EST

Too bad. History is repeating itself. All I hear is how tough it is on young people forced to think about leaving Ireland. It seems to be a big deal today. How about the thousands and thousands that were forced to leave back in the 50's, very little fanfare. It was almost a foregone conclusion. You go to College and then get on the mailboat to England or a plane or boat to the greatest country in the world.Hope it turns around for them but remember Ireland has not been very good to its citizens for many many years. It seems to hurt more now because they got a brief taste of the good times and are ill equiped for a little hardship and change. Wherever they end up they will be a credit to an undeserving nation!!! Thanks again Fianna Fail BRILLIANT!!! How long more will the people put up with you?

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GeorgeDillon | Dec 01, 2010, 02:03 PM EST

Tom D: Thanks for giving us your location. Are you still there? I'll be down in maybe 30 minutes, I'll be the guy just under the TV, drinking JD & Coke.

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Blarneyrock | Dec 01, 2010, 12:37 PM EST

The Irish over the centuries have not had much going for them in the olde country. It was necessary for our ancestors to emmigrate to make better lives for themselves. There were always many many opportuities all around the globe. Now, for the first time in history, there are few if any jobs available to our young Irish. I believe that the world's lousy economic condition is a direct cause of waste and overspending by our governments and ourselves. However, WE Irish are a tough breed and very resilent and we will pull ourselves out of this mess. Tom D Blarney Rock Pub 137 Irish Pub Way (aka 33rd street) Manhattan, NY

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Monsoonman | Dec 01, 2010, 12:07 PM EST

Maybe one of those empty cargo planes dead heading back to Ireland can take Hillary Clinton. There is a growing chorus calling for her resignation as secretary of state. She should resign if it can be shown that she was responsible for ordering U.S. diplomatic figures to engage in espionage in the United Nations, in violation of the international covenants to which the U.S. has signed up.

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nicgearailt | Dec 01, 2010, 10:35 AM EST

let us not forget the politicians who allowed the country to be embarrassed..the bankers were smarter than the people who were paid handsomely to run the country.Nobody was minding the store.You cannot have one party government. Suggest term limits....to remove the career politicians...Average citizen needs to get smart about how the country functions....hold people accountable.... Ireland and the Irish have some tough times ahead... It's hard to believe that this is the country that had it all a few years ago. And getting a little religion in their life again might set them in the right direction....priorities are massively off track...

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Australia | Nov 30, 2010, 08:04 PM EST

Tasmania/Australia would be very lucky to have the youth of Ireland move here. Contrary to the authors opinion Tasmania is a very beautiful place with alot of natural assets, work opportunities and friendly people.From reading many sites around the world and from within Australia it is apparent,we too will soon face the same financial meltdown that Ireland is facing today.I hope that countries such as Ireland, through the voice of the people, show us how to fix this mess.

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LoyalCitizen | Nov 30, 2010, 02:45 PM EST

Corrupt Politicians. Corrupt Judges. Corrupt Barristers. Corrupt Solicitors. Corrupt Bankers. Corrupt Civil Servants. Corrupt Garda. Corrupt Voting System. The Irish are far too easily influenced by money.

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irishwxman | Nov 30, 2010, 02:42 PM EST

that's right mhichil. Its capitalism. the economic system that has been in place since the founding of this country, and now all of a sudden we get a power hungry government loving moron in charge...we get all of this debt and spending. Ireland is overrun with socialist liberalism in the dail. You don't think Ireland being the number 2 country in the world in welfare entitlements has anything to do with it? think again.

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mhichil | Nov 30, 2010, 01:58 PM EST

Baloney Maloney! whatcha need is a cup, not a party. It is not liberalism at fault, it's a capitalism ideology mixed with greed. It's laws and weapons that protect the banks and property over the human rights that have brought citizens to this point. You can bet the bankers and Wall Street are having a merry season this month

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irishwxman | Nov 30, 2010, 01:40 PM EST

hey pmunited...you do know Bush has not been the president for about 2 years don't you? You think maybe its time to take some responsibility for what O'bama has done?

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irishwxman | Nov 30, 2010, 01:35 PM EST

Ahhhh the faithful liberal playbook....Blame Bush. never fails.

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pmunited | Nov 30, 2010, 01:14 PM EST

Sorry, I meant it was not Obama who got us into the wars.

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