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offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

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Human Rights in Ireland
Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

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offsite link Rip The Chicken Tree - 1800s - 2025 [3] Tue Nov 04, 2025 03:40 | Mark

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offsite link The Golden Haro Fri Oct 31, 2025 12:39 | Paul Ryan

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Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Tue Nov 11, 2025 00:44 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Memories of the Way We Were Mon Nov 10, 2025 19:45 | Graham Cunningham
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The post Memories of the Way We Were appeared first on The Daily Sceptic.

offsite link Olympics Set to Ban Transgender Athletes from All Women?s Events Mon Nov 10, 2025 17:34 | Will Jones
The Olympics is set to ban transgender athletes from all female competition following a science-based review of evidence that reportedly showed there are irreversible physical advantages to being born male.
The post Olympics Set to Ban Transgender Athletes from All Women’s Events appeared first on The Daily Sceptic.

offsite link Trump Threatens BBC With Legal Action as Chair Samir Shah Fails to Apologise to Him Mon Nov 10, 2025 15:13 | Will Jones
President Trump has threatened the BBC with legal action ? as its Chair Samir Shah insists the corporation is not institutionally biased and fails to apologise to him.
The post Trump Threatens BBC With Legal Action as Chair Samir Shah Fails to Apologise to Him appeared first on The Daily Sceptic.

offsite link Trump to Deport Boss of Starmer-Linked Censorship Organisation Centre for Countering Digital Hate Mon Nov 10, 2025 13:06 | Will Jones
Donald Trump's White House is poised to deport the boss of the Centre for Countering Digital Hate, an internet censorship organisation founded by Sir Keir Starmer?s Chief of Staff, Morgan McSweeney.
The post Trump to Deport Boss of Starmer-Linked Censorship Organisation Centre for Countering Digital Hate appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

The deepening crisis of the Irish economy

category national | anti-capitalism | other press author Thursday May 14, 2009 19:00author by Socialism or Barbarismauthor email socialismorb at gmail dot com Report this post to the editors

Article reviewing impact of bank bailout from a marxist perspective.

In this latest post on the Irish economic crisis, Socialism or Barbarism analyses the extent of the impact of the bank bailout and the recession in the real economy and what it will likely mean for the working class.

The Bailout

All the mainstream political parties agreed on the necessity of the bank bail-out package - some wholeheartedly some by using the Thatcherite injunction 'TINA: There Is No Alternative'. In making this decision, the Irish political class collectively signed the Irish taxpayer to cover liabilities of value approximately €440bn (figure supplied by the Financial Times, January 17 2009). This decision represented the greatest transfer of wealth from the working class and petty-bourgeoisie to the nexus of super-wealthy property tycoons and their political friends since the inception of the state itself in 1923.

It remains to be seen whether a run on the banks will expose the full extent of the government's bluff but, irrespective, the losses which the Government have signed up to covering continue to rise. Initially in December 2008 the bailout was quantified at €10bn then, according to Standard and Poors Rating agency it was €20bn in March 2009, then the IMF estimated the exposure to be €24bn in May 2009. In truth, no-one can be sure just how much this is going to cost. Given the scale of the collapse in housing market and the overall value of the sector, it would seem likely that these figures represent gross underestimates of liability.

full at: http://revolutionaryireland.blogspot.com/2009/05/deepen....html

Related Link: http://revolutionaryireland.blogspot.com/2009/05/deepening-crisis-of-irish-economy.html
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