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Reply #14: An Irish village says no to the banks [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-23-11 07:07 AM
Response to Reply #13
14. An Irish village says no to the banks
http://www.presseurop.eu/en/content/article/1198841-iri...


The invitation to the first march came on an A4 sheet, eight months ago, and it was the essence of civility. "Short, sharp, silent," it said, "No placard, no chant." Those who felt angry about what was happening should gather in the church car park and march to the speed limit sign on the edge of the village. No speech-making. "Bring only your anger."

And, last Sunday in the north Cork village of Ballyhea, after the second Mass, the 38th weekly march was scheduled to take place. A 10-minute walk from St Mary's car park to the speed limit sign on the edge of the village, and back. Over the months, the march has acquired a banner: "Ballyhea Says No! To Bond-Holder Bail-Out." A small upsurge of spirit in a frightened, diffident country.

It began with a local man, Diarmuid O'Flynn, a sports journalist with the Irish Examiner. He wrote to TDs, protesting about the bailout of bondholders, and got form letters in reply. Last March, O'Flynn rang around friends and relatives. A dozen people turned up in the church car park, and they had their quiet, dignified march, and the rest of us didn't notice.
ECB instructs the citizens to pay

O'Flynn saw the bailout of bondholders as central to what has been done to the country. Tens of billions of private business debts, transferred to the citizens, breaking the State's ability to borrow at sustainable levels of interest. He reckons the total cost of bailing out the bondholders, with interest over the years to come, will be a hundred billion. "The ECB is allowing us borrow a hundred billion, so we can spend a hundred billion paying off bondholders."
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