Wednesday 22 February 2017

We need to invest in Irish economy

Published 26/01/2011 | 10:01

There seems to be a presumption by most political parties, and commentators, that the Finance Bill and the EU/ECB/IMF so-called bailout should be approved because there are no other options.

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Firstly, this 'bailout' is not a bailout at all, but the equivalent of a toxic subprime mortgage at unsustainable interest rates. Far from bailing out the Irish economy, it will simply dig our existing hole of national debt ever deeper.

Sinn Fein are right to say that the Finance Bill should be voted down until a new government is elected, and that the EU/ECB/IMF subprime mortgage should be rejected, but they offer no credible solution as to how the Irish economy could survive.

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