IN recent months I have followed the ineptitude of Irish politicians and bankers and have been very critical of the guarantees offered by Cowen & Co. to bondholders of Irish debt.
Ireland is insolvent. It’s as simple as that!
What ordinary Irish people don’t really understand is that the International Monetary Fund (IMF) is not a charitable organization, nor is it a beneficent brother in finance. Rather, it a financial and economic colonizer.
With SAPs or Structural Adjustment Programs operated by the IMF all across the world, sovereign nations are held in the bonds of debt until they privatize all public assets. Assets such as the ultra efficient and world renowned ESB (Electricity Supply Board) will become ripe targets for sale to private operators, foreign corporate entities most likely.
The future of the Irish economy depends now on whether the ordinary taxpayer wakes up and smells the IMF coffee, and how they organize themselves against the onslaught of this snake in the economic grass.
A cursory overview of the victims of IMF skullduggery include Argentina, Bolivia and a host of other countries where the IMF attempted to privatize almost every single public asset, including water (in Bolivia) and charge the citizens of those countries outrageous prices while at the same time force the government to raise funds by selling natural resources to repay the massive loans offered by the IMF!
Ireland’s economic implosion is a disaster waiting to happen.
Only deep awareness by the public can stem the tide. The French have decided that they will engage the banks on December 7 by withdrawing their deposits. This will send a message to banks that hard earned money should not and will not be abused by greedy banksters to pursue risky activities that do not spur economic growth.
In Ireland we waste $1.2 billion on building an airport terminal based on 600,000 tourists and travelers annually, when the reality is that most of the people going through Terminal 2 in Dublin Airport will be emigrants exiting the country for Australia, New Zealand, America and Canada!
A.P. Ó Máille
New York, New York
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