News & Analysis

Should mortgage debts be written off?

The question of banks writing off mortgage debt of householders unable to pay has hit the headlines in the past weeks. Bank of Ireland, AIB and Bank of Scotland have stated they are considering some form of debt write-off.  Ireland’s debt crisis is a major burden on the banks and the Irish economy. As part of their recent bank stress test the Central Bank estimated €9.5 billion in bad mortgage debts in the Irish banks between now and 2013. The high level of personal debt is adding to the economy’s deflationary spiral.

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“Why I joined”

The last few months have seen one thing sweeping across the island’s politics – austerity. The governments north and south are shifting the consequences of the greedy bankers to ordinary working class people, with young people being particularly hard hit. Youth unemployment is at an all-time high and very expensive university degrees are becoming worthless.

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Peter Hadden 1950 – 2010

On the first anniversary of the death of Comrade Peter Hadden we republish an article he wrote in 2008 on the 20th anniversary of the killing of three IRA volunteers in Gibraltar and the subsequent events. This article is an important Marxist analysis of these events, but more than that it is a critique of the futility of IRA's campaign of individual terror, the role of British imperialism and a confirmation that the national question in Ireland can only be resolved through the building of a mass movement for socialism based on working class unity.

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Heading for default – Workers’ movement must resist austerity

At the end of March the Fine Gael/Labour Government announced a €24 billion bailout for Ireland's four remaining banks. In so doing, the government indicated that their banking policy is a mere carbon copy of that previously pursued by Fianna Fail and the Green Party. Here, socialistparty.net, looks at the very real prospect for default which haunts the establishment.

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Socialist Party TDs salute CPSU delegates

Responding to the recent vote by CPSU delegates at their Annual Delegate Conference in Athlone to refuse to back the Croke Park deal which they voted against in huge numbers last year Clare Daly TD, Socialist Party/ULA, Dublin North said:

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No more conciliation we need opposition!

Since 2008, secondary school teachers and their students have been under attack and made into one of the scapegoats for the woes of society by the government and the media. Net wages have been savagely cut by up to 25%, work load has been drastically increased, class sizes have been detrimentally increased, funding for special needs obliterated, ill discipline within ...

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