Economy
Government’s strategy for growth – can it work?
Parts one and two of this article have explained the chronic nature of the capitalist crisis in Ireland. Part three will first of all investigate the rhetoric underlining a crucial part of the government’s strategy for recovery before analysing the consequences of the crisis for the workers' movement.
New economic data shows – Recession no end in sight
Recently released economic figures have given lie to the idea that Ireland is in the midst of an economic recovery and that the recession is over! Minister for Finance, Brian Lenihan and the government emphasised this so called recovery to sell the harsh December budget. The theory went that if we pulled up our socks now and took our medicine, it will all be over soon, he was lying and now the reality is hitting home.
Bank bailout – Giving away your future
“It's the classic fairytale gone bad. A brave little country was given three wishes: low interest rates, high wages and billions in multinational investment. For a brief moment in time, for the first time in its history, Ireland was wealthy and had the respect of the world. Then it threw it all away. And that’s why they call it Namageddon.” - The Wall Street Journal.
Irish recession – Is the worst over? Part 2: Debt, unemployment and exports
In Part two of a three part article on the Irish economy, Paul Murphy looks at some of the factors depressing the domestic economy, focusing on debt and unemployment, as well as analysing whether the government's export focused strategy can be successful.
ESRI Report exposes scandalous abuse by speculators and banks
Mortgages should be immediately re-assessed and reduced. Commenting on the “Negative equity in the Irish Housing Market” report from the ESRI, Joe Higgins MEP said...
Mortgage defaults – No prospect of government help & More Bank bailouts!
Ann Orr writes about the increasing problem of mortgage defaults : In December 26,271 mortgage holders were behind in their mortgage re-payments due to the dramatic increase in unemployment. And Michael Murphy writes about the government's plans for another bank bailout.
Irish recession – Is the worst over?
Brian Lenihan introduced the budget for 2010 with the statement that “the worst is over”. This astounding declaration was accompanied by rising unemployment, attacks on public and private sector wages, and the admission that the savagery of the 2010 budget will be matched in 2011 and 2012. There is no question that for working people, the worst is far from over. Part One of a three part article.
The socialist alternative to the crisis
WE ALL have to share the pain” has become the mantra of the entire establishment, from right-wing economists and political parties to much of the trade union leadership, as working class people are made to suffer to protect the profits and power of the bosses. This article critiques this orthodoxy and argues that socialist policies offer the only alternative to the vicious attacks of capitalism.
A determined fight from unions needed to stop government onslaught
The Budget will, if the Government gets its way, mark the first of four where working people, the unemployed and those who depend on public services will be crucified over an economic crash they did not cause. The palpable anger this is causing in society generally can be seen in the threat by the Garda Representative Association to ballot for industrial action.
No bailout for real victims of property crash
SARAH BOUGHT her one bedroom apartment in Swords for €300,000- her mortgage repayments are €1,450 a month. When her job relocated down the country, she had little choice but to move. With the apartment now valued at €170,000, she can’t sell it, and has no choice but to rent it out bringing in €750 and leaving her to add another €700 every month.
