From Socialist Voice, January 2011

Repudiate the debt!


In February the Communist Party of Ireland will launch its “Repudiate the debt” campaign to make this an issue in the forthcoming general election. It is the CPI’s view that a repudiation of the debt, along with the necessity of putting forward an alternative economic and social strategy that puts the people at the heart of economic and social policies—a strategy that challenges the power and control of the European Union—is central to a progressive fight-back.
     Many groups and organisations and some political parties have been calling for a “renegotiation” of the terms of the EU-IMF deal; others have been calling for a rescheduling of the debt; others predicting that the state will have to default anyway. Even the American Chamber of Commerce in Ireland has supported the idea that some of the debt should be dumped.
     All these positions the CPI believes accept the logic and the underlying ideology of why we have this unpayable debt placed upon the backs of our people. The “We would if we could but we can’t” approach will reinforce the dominant economic values. This is a question that cannot be ignored or opportunistically set aside because it might lose votes in the forthcoming election.
     Challenging that underlying ideology is the only way we can begin to make progress. It is the same as with those who say that the national question is a “distraction.” If we don’t challenge them we are allowing the establishment and its media to determine what our demands and strategy should be.
     The massive debt is the weakest link in the chain of control and subordination that the EU and IMF and the Irish Golden Circle wish to retain over the Irish people.
     The CPI will be calling for a plebiscite on the EU-IMF deal. A series of public events is being organised around the country.
     A new pamphlet on why we need to repudiate the illegitimate “sovereign debt” will be launched in early February with a public event in the New Theatre and Connolly Books. This event will be open to all elements of the left and republicans and will kick off the “Repudiate the debt” campaign.

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