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26/07/2011
'Enough' To Protest At Allied Irish Bank
As part of their 'Enough' campaign a protest will take place this morning outside the EGM of Allied Irish Banks Headquarters in Ballsbridge, Dublin.
The protest will get underway as shareholders meet there today to decide on a plan to inject €5 billion from the National pension Reserve Fund into the crisis-ridden bank.
Deputy Boyd Barrett, along with Cllr Brid Smith of the People Before Profit Alliance, will attend the EGM as proxies for a dissident shareholder to highlight outrage at the plan to raid the NPR to re-capitalise the bank, as demanded by the EU-IMF programme for Ireland.
Protesters from the ‘Enough’ campaign, established in recent months, oppose the EU-IMF austerity programme and the continuing bank bail-out. They will protest outside the EGM, while Deputy Boyd Barrett and Cllr Smith attempt to challenge the bank’s board inside.
In the statement, Deputy Boyd Barrett said that while the Government and EU-IMF plan for AIB was an obviously outrageous theft of public funds to cover the gambling losses of AIB and its bondholders, the so called “good news story” about private sector investment in Bank of Ireland was equally outrageous.
Deputy Boyd Barrett, for the People Before Profit Alliance, said that the real story was that in both cases the government and EU-IMF policy was to pour “vast billions” of public money into both banks to cover their gambling losses. The move would also ensure that both institutions would be completely insulated from public control or accountability or any mandate to put the interests of ordinary citizens and the economy ahead of the interests of profit hungry investors and speculators.
Deputy Boyd Barrett said that the commentary from Finance Minister, Michael Noonan, and much of the media commentary about the latest developments in the two so-called “pillar banks” showed a complete failure to break from the economic madness that had created the economic crisis in the first place, and seemed to demonstrate that the government either did not understand the causes of the crisis or simply did not care.
Deputy Boyd Barrett said also that the failure of even Sinn Fein to vote against the passing of the second stage of the Government’s ‘Credit Institutions Bill 2011’ on the last day of the Dail sitting - with only the United Left Alliance and some Independents voting against – showed that neither the government nor much of the opposition seemed to actually grasp the nature of the current financial economic crisis never mind have any idea how to resolve it.
Deputy Boyd Barrett said: “It just beggars belief that today €5 billion of real cash from the National Pension Reserve Fund – money which should be invested in putting people back to work and re-starting our collapsed economy - is going to be put into a Zombie bank to cover the gambling losses of speculators and bondholders.”
(BMcN/BMcC)
The protest will get underway as shareholders meet there today to decide on a plan to inject €5 billion from the National pension Reserve Fund into the crisis-ridden bank.
Deputy Boyd Barrett, along with Cllr Brid Smith of the People Before Profit Alliance, will attend the EGM as proxies for a dissident shareholder to highlight outrage at the plan to raid the NPR to re-capitalise the bank, as demanded by the EU-IMF programme for Ireland.
Protesters from the ‘Enough’ campaign, established in recent months, oppose the EU-IMF austerity programme and the continuing bank bail-out. They will protest outside the EGM, while Deputy Boyd Barrett and Cllr Smith attempt to challenge the bank’s board inside.
In the statement, Deputy Boyd Barrett said that while the Government and EU-IMF plan for AIB was an obviously outrageous theft of public funds to cover the gambling losses of AIB and its bondholders, the so called “good news story” about private sector investment in Bank of Ireland was equally outrageous.
Deputy Boyd Barrett, for the People Before Profit Alliance, said that the real story was that in both cases the government and EU-IMF policy was to pour “vast billions” of public money into both banks to cover their gambling losses. The move would also ensure that both institutions would be completely insulated from public control or accountability or any mandate to put the interests of ordinary citizens and the economy ahead of the interests of profit hungry investors and speculators.
Deputy Boyd Barrett said that the commentary from Finance Minister, Michael Noonan, and much of the media commentary about the latest developments in the two so-called “pillar banks” showed a complete failure to break from the economic madness that had created the economic crisis in the first place, and seemed to demonstrate that the government either did not understand the causes of the crisis or simply did not care.
Deputy Boyd Barrett said also that the failure of even Sinn Fein to vote against the passing of the second stage of the Government’s ‘Credit Institutions Bill 2011’ on the last day of the Dail sitting - with only the United Left Alliance and some Independents voting against – showed that neither the government nor much of the opposition seemed to actually grasp the nature of the current financial economic crisis never mind have any idea how to resolve it.
Deputy Boyd Barrett said: “It just beggars belief that today €5 billion of real cash from the National Pension Reserve Fund – money which should be invested in putting people back to work and re-starting our collapsed economy - is going to be put into a Zombie bank to cover the gambling losses of speculators and bondholders.”
(BMcN/BMcC)
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Protests Call For Cancellation Of EU/IMF Deal
At a press conference today in Dublin organised by the Enough campaign - a campaign established earlier this year to oppose the EU-IMF austerity programme - public representatives, trade unionists, special needs and debt campaigners and others launched a series of protests, meetings and events that will take place during the visit of the EU-IMF del
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Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
