“I will be proposing to my colleagues that they should formally apply for a program,” Lenihan said in an interview with state broadcaster RTE in Dublin. “The banks were too big a problem for the country. The key issue all the time for the government is to ensure that we do not have a collapse of the banking sector.”
Why not just blow ’em up? Tell the banks to stuff it and let them collapse.
Then set up new banks with sovereign credit. New banks with clean balance sheets.
Oh yeah, and while you’re at it, arrest the heads of said banks and put them on trial for corruption and looting, and upon conviction, give them this:
That’s what should happen. And it’s what the Irish People should demand happen – by whatever means are necessary.
The cost of saving Ireland’s banks threatens a rerun of the Greek debt crisis that destabilized the euro region earlier this year. Lenders are reeling from the collapse of the property market in 2008, which resulted in the biggest contraction of any EU nation. An unprecedented budget deficit — equaling one-third of economic output this year — sent bond yields to all-time highs.
Looting becomes impossible to sustain eventually. Now the Irish Government thinks that the Irish people should pay for being robbed!
It’s not enough to get ripped off – now the government wants to tax the people to pay for the stealing that they allowed to happen in the first place.
This is no different than what happened in Greece or the United States for that matter, and it will continue to happen until the people stand up and refuse to accept it.
Further, and far more importantly, shifting the bad debt around doesn’t get rid of it. It simply tries to impose the cost on the nation as a tax – a tax that cannot be paid, and won’t be paid.
To the Irish people: You must choose between putting a stop to this – no matter what it takes to enforce that demand – and literal debt peonage and servitude imposed upon you for the sins of a handful of rich bastards that robbed all of you.
The Greeks failed to rise and stop it.
Now it’s your turn.
The problem with refusing to rise is that doing so will not in fact provide a fix. You will simply sink further into the mud and ultimately will detonate the European Union.
Down the road of “accepting” these acts by your government lies an inevitable armed conflict of some sort.