money-ireland-euro

What the bank bailout money could buy

“The cheapest bank bail-out in the world”, Brian Lenihan arrogantly announced two years ago when the banks were guaranteed. The government have announced that the final figure for the bailout of Anglo and Irish Nationwide bail-out could reach €34.7 billion.

O     This figure is three times the 2010 budget of the HSE.
O    It is four times the budget of the Department of Education.

How indescribably galling it is, that working class families are paying directly for a policy of bailing out speculators and bond-holders, with cuts that are not only wrecking our already ailing public services but will also knock the economy back decades leading to enormous hardship and forced emigration of young people as their hopes for the future vanish.

The overall bank-bailout bill is now set to reach a minimum of €50 billion, although it may reach €70 billion or even €90 billion according to some estimates.

O    €50 billion would be enough to provide 66 years of free public transport in Ireland.
O    It could build 70 children’s hospitals.
O    It could reduce pupil-teacher ratio in primary schools to 1:10 for the next 40 years.
O    €50 billion would be enough to make education genuinely free and would put nearly 800,000 students through their entire education.
O    It could pay the grocery bills of everyone in the country for 5 years.

Cheapest bank bail-out in the world? The liars and cheats in the political establishment cannot be trusted. There is no low that they will not stoop to in protecting the interests of the super-rich. The working class needs its own political party with policies that attack the private ownership of wealth that the bank bail-out protects.

x

Check Also

Fake news

The “fake news” hysteria in the US

By George Martin Fell Brown, Socialist Alternative in the US Donald Trump’s victory in the ...

trump-protest

Trump prepares vicious attacks- We must prepare resistance

Trump’s victory in the presidential election was a profound shock to tens of millions of ...