Sunday 26 February 2017

Life in debt

•Regarding my letter of September 22: having published my naive suggestion as to what the Government may have done for its citizens, consider what actually has happened.

It is now on record that Ireland was forced out of the market by the ECB and our own Central bank. No Irish government required. Brian Lenihan testified to this. The bailout was announced not by the Taoiseach but by the Central bank.

And in response to the State's wiping clean of over €80bn of private debt, what do we get in return? Forced privatisation of the nation's assets, a cartel of wealthy bankers and institutions owning the majority of the country's property, 770,000 mortgage holders forced to indefinitely pay for homes now worth half of what they paid and enterprise facing collapse. We appear to have been privatised ourselves!

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