Dáil debates

Wednesday, 6 April 2011

Bank Bailout and EU-IMF Arrangement: Motion (Resumed)

 

6:00 pm

Photo of Séamus HealySéamus Healy (Tipperary South, Workers and Unemployed Action Group)

Like the organisation I represent, the Workers and Unemployed Action Group South Tipperary, I am committed to an alternative Ireland that unites working people, whether public or private sector or Irish or migrant, with the unemployed, social welfare recipients, pensioners and students in a struggle to change society. I favour an end to the bailout of banks and developers and a refusal to pay the debts of private banks to international speculators and finance houses. I am appalled that the people have been led into subordination to Britain, Germany and France and to their bankers and speculators through the EU-IMF deal. I am appalled at the consequential loss of sovereignty and independence. I am also appalled at the payment of a new cíos dubh, a new rack rent, to international speculators and bankers.

Allowing private banks to borrow €90 billion abroad between 2003 and 2007 was an act of treachery by the former Government and the Irish establishment generally. The blanket guarantee of all bank debts by the former Government was the greatest act of national treachery since the Act of Union.

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