Lift the Burden - Jobs not Debt
Ireland is shouldering the biggest bank debt burden in the European Union.
It is not our debt but was the cost of ‘saving’ the Irish banks, whose collapse brought down the whole economy.
They were part of a corrupt culture among senior Eurozone bankers that saw the biggest bonuses awarded to the most reckless lenders.
Cover image for Feb 9 leaflet We make up less than 1% of Europe’s population, but are expected to repay debt of €64 billion - far bigger than the bank debt of major powers like Germany, the UK and Spain.
We comprise a tiny fraction of the European economy but have pumped more into our banks than any other EU state.
- So far, the average EU citizen has paid €192 to cover the cost of their bust banks.
- But our bank bailout has cost every Irish citizen almost €9000 - nearly 50 times the EU average!
- And we are expected to pay more!
Our bank bailout prevented the collapse of the European banking system and probably saved the Euro.
The whole EU benefitted, but we are expected to foot the €64 billion bill alone.
The bank debt burden is unsustainable and unjust. It will cripple us for generations to come.
No matter what sacrifices we make, or how ‘competitive’ we become, there is no hope of recovery until this burden is lifted.
We must act now and send a clear message across Europe. Join the National Protests on Saturday, February 9 (assemble 1.30pm).
DUBLIN: Cook Street (near Civic Offices, Wood Quay);
CORK: SIPTU offices, Connolly, Hall Lapps Quay;
GALWAY: Cathedral Car Park; LIMERICK: Mechanics
Institute, Harstonge Street; WATERFORD: The Glen (in front of the Forum); SLIGO: Sligo County Council Offices, Riverside