IMF, ECB and EU are sacrificing Irish people to save the euro

Statement by the Communist Party of Ireland,
29 November 2010


The imposed “solution” to the Irish state’s growing and deepening crisis is to make every person an indentured servant to the needs and interests of EU finance houses, in particular to German banks. The National Pension Fund is now to be squandered to bail out banks that should have been allowed to go to the wall from the beginning.
     The punitive interest rate of 5.8 per cent is unpayable without enormous hardship being inflicted on the people. There is no other solution than to repudiate this unpayable debt.
     It is clear that the Irish establishment put up little if any resistance to the demands being imposed by our so-called “partners” in the European Union. These are the same people who negotiated the Lisbon Treaty while admitting that they had not even read it.
     The dependent relationship with the EU that all three main parties have pushed our country into over the last four decades is now being laid bare. They have now put the interests of saving the euro and German bond-holders before those of the Irish people.
     Working people will pay a very heavy price over the coming decades for the deal being imposed by the EU and ECB and the IMF. Thousands of jobs will be lost, hospitals will close, class sizes will grow even worse. Those who still harbour the illusion that the European Union is somehow good for working people, either here in Ireland or in the members-states in general, need to think again.
     It is the first duty of the state to protect all its citizens. We need to break whatever EU rules and treaties are necessary in order to protect the interests of the Irish people, and to set about a fundamental change in economic policy and direction.

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