From Socialist Voice, March 2011

Repudiate the debt!

The CPI recently launched the Repudiate the Debt campaign, demanding a referendum on the illegitimate debt that has been imposed on the people by a corrupt Government that had no popular mandate.
     The campaign web site,, contains many of the leaflets and materials being used and provides a link to the on-line petition calling for a referendum, which we are urging people to sign. The site will be continually updated with new resources and information.
We call for the democratic right to vote
on the socialisation of debt by a Government that had no mandate from the people.
     It also hosts an on-line debt counter, showing how much the state has made each person owe to the international banking system. In addition to this, CPI members, friends and political activists who support the campaign are taking to the streets to collect signatures and to publicise this crucial issue facing present and future generations.
     The media and establishment politicians are running a very successful campaign of scaring people into the belief that there was and is no alternative but for working people to save the banks and save the system through accepting harsh cuts and transferring the people’s wealth, savings and assets to the financial system—while senior managements still enjoy millions in bonuses. This is the only way, according to the media, Fianna Fáil, Fine Gael, and the Labour Party: working people must suffer to save the rich.
     The CPI has consistently disagreed with this line and has produced various publications and held many public meetings to show another way out of this crisis, by working people and for working people. This way starts with the repudiation of this debt. It is not sovereign debt: it is the debt of a private financial system and other European economies.
     As part of the campaign the party has published a new pamphlet, Repudiate the Debt: For a Better Future. It is vital that people arm themselves with the facts and the evidence from this pamphlet.
     There is no reason to fear repudiating the debt: many countries, of varying political colours, have done it before. There are various alternative sources of funding the state can turn to, both internal and external, and that would provide the state with a far greater degree of independence and democratic control, in which the people of this country can determine our own future, free from economic blackmail and the whims of international pirate profiteers.
     Support the campaign! Sign the petition!
Some countries that have repudiated national debts:
          Costa Rica
          South Africa
          Soviet Union
          United States

• Repudiate the Debt Campaign:
• On Facebook:
• The petition:

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