The Watchdog

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Jane Burgermeister Report: Latest ‘Irish Independent’ articles on Ireland and bank crisis:

5 April 2011

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A week is a very long time in the disastrous world of Irish banking: Irish Independent

Jane Burgermeister | April 4, 2011 at 3:32 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1as

Bankers’ criminal negligence, political incompetence and the ECB have all combined to dump the ‘costliest’ bailout in history on to the Irish taxpayer, writes Daniel McConnell

Sunday April 03 2011 Irish Independent

Last Thursday was to be the day that Ireland would finally liberate itself from the worst financial crisis in its history.

But what happened?

We, the taxpayers, shovelled another €24bn into our busted banks (of which only two will be left standing); Ireland was shafted by the ECB, which failed to deliver on a promised medium-term funding facility; the Government U-turned on its election promise to burn bondholders; and events in Spain and Portugal heightened the stakes even further.

http://www.independent.ie/opinion/analysis/a-week-is-a-very-long-time-in-the-disastrous-world-of-irish-banking-2607411.html

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Ireland is occupied and ruled by a “Vichy Regime” acting for banks, says Irish Independent

Jane Burgermeister | April 4, 2011 at 3:28 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1ap

Gene Kerrigan: Transfer of power now truly complete

The policies imposed on the last coalition will continue into the foreseeable future, says Gene Kerrigan

Sunday April 03 2011 Irish Independent

Welcome to Occupied Ireland. We haven’t been invaded, there was no siege, but after last Thursday I trust the governing arrangements are crystal clear?

In recent weeks it wasn’t just the banks that were stress tested — the robustness of our democratic structures were assessed. And we saw the result. We are free to vote for a government, but it’s a puppet government, a Vichy regime.

The power lies with a handful of unelected EU mandarins, and the proconsuls they appoint to look after the details. The policies imposed on the late unlamented Biffo administration will continue — protect the bondholders, protect the euro, try to make up the difference by cutting services, wages and jobs. The jargon we must use to describe our rulers has been specified: “Our External Partners”.

Read more at: http://www.independent.ie/opinion/columnists/gene-kerrigan/gene-kerrigan-transfer-of-power-now-truly-complete-2607419.html

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Only a miracle can save financial system from complete meltdown

Jane Burgermeister | April 4, 2011 at 3:26 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1an

Despite election pledges the Government never had any intention of burning bondholders, says James Fitzsimons

Sunday April 03 2011 Irish Independent

MICHAEL Noonan talks the talk, but last Wednesday the only walking he did was backwards. It confirms that the EU is running the show. The light we saw flicker at the end of the tunnel has been blown out and is unlikely to be rekindled any time soon.

The new Government had an opportunity to deliver on its election promises. It failed abysmally on one of the key issues. It didn’t renegotiate the EU/IMF deal to withhold repayments to the senior bondholders, as promised. It might have been shot down in flames had it persisted with this approach. But it would have preserved its credibility at home. Its proposed bank reorganisation is a whitewash, and only intended to distract us from the cover-up of what is going on at the highest level in Europe.

Read more at: http://www.independent.ie/opinion/analysis/only-a-miracle-can-save-financial-system-from-complete-meltdown-2607412.html

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Irish Independent writer says country must snub “Frankfurt-Brussels” axis and introduce new currency

Jane Burgermeister | April 4, 2011 at 3:25 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1al

We need leaders who will ignore the eurobabble and just say no

The only things that will save us now are sheer bloody-mindedness — and a new currency, the punto, writes Aengus Fanning

Sunday April 03 2011 Irish Independent

IF THERE’S anything worse than having to look after your own affairs, it’s not being allowed to look after them.

We have made a dog’s dinner of managing our economy. It is a story of staggering incompetence that reached its peak on that fateful night in September 2008 when we gave an open guarantee to the banks.

I don’t believe that, even at that disastrous hour, as we perpetrated the biggest blunder in our economic history, we were doing anything other than the bidding of the Frankfurt-Brussels axis.

Read more at: http://www.independent.ie/opinion/analysis/we-need-leaders-who-will-ignore-the-eurobabble-and-just-say-no-2607418.html

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Irish cabinet bounced into disastrous bank guarantee

Jane Burgermeister | April 4, 2011 at 3:22 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1aj

Cabinet got no say on guarantee: Willie O’Dea

Former minister was told ‘this is what we have to do’ in late night call

By DANIEL McCONNELL Chief Reporter

Sunday April 03 2011, Irish Independ

Former Defence Minister Willie O’Dea has revealed for the first time how the last Cabinet was bounced into issuing the bank guarantee, which has given a “blank cheque” to holders of senior bonds in Irish banks.

Mr O’Dea said a ‘fait accompli’ on the disastrous €440bn guarantee was presented by then Taoiseach Brian Cowen and Finance Minister Brian Lenihan to other ministers at 1am on the night in question.

http://www.independent.ie/national-news/cabinet-got-no-say-on-guarantee-willie-odea-2607504.html


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April 4, 2011 - Posted by | Fighting corruption internationally, Internationally significant information

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