According to the Minister for Finance Michael Noonan the IMF and the EU are set to make €9 billion profit from Ireland’s bailout. Not content with heaping misery upon millions of working class people, the European Union mandarins want to make money out of it.
"The news of Eircom's owners' intention to shed at least a further 1,300 jobs on top of the similar amount of voluntary redundancies it has already sought and almost achieved shatters the government guff that we are embarking on an economic recovery".
A spectre haunts Europe – the spectre of a default by Greece, Greece's subsequent exit from the eurozone and a break up of the eurozone. All the signs – economically and politically – are that key sections of the European establishment are increasingly coming to the realisation that this is now a real possibility.
Do not be conned by the promissory note deal. It represents no benefit to the ordinary people of this State; not in the short, medium or long-term. The deferral of this payment until next year is simply kicking the problem can further down the road.