Ross Maguire: No reversal of fortune until we rid nation of unsustainable debt
People had been unable to fight the banks, but now we have the weapon of personal insolvency
Published 01/09/2013 | 05:00
THE ninth of September 2013 will be an important date in our nation's war on debt. This is the date when the first applications for personal insolvency will be made.
Ever since the commencement of hostilities in 2007, we have suffered loss after loss. We were told by our leaders that the war would be won and won quickly, and we were exhorted to do our patriotic duty.
The people followed, as truly as any people ever did, only to be bitterly disappointed. In 2010, the State took upon itself further massive debts, leading to the handing over of control of our country later that year. Some 300,000 of our people have been lost to emigration, another 450,000 languish in unemployment, and debt stalks every town and hamlet in the land.