Financial oligarchy dictates terms of Irish bailout

Financial oligarchy dictates terms of Irish bailout
Published on 12-04-2010 Email To Friend Print Version
Share |

Source: WSWS

The €85 billion bailout agreed on Sunday evening between the European Union, International Monetary Fund and the Irish government will enforce the demands of the financial elite through the further impoverishment of the working class. It will ensure that those responsible for the current crisis are protected from any losses, while state finances will be raided once again to bail out insolvent financial institutions.

Negotiations were held throughout the weekend, with fears that failure to secure a deal by the opening of trading on Monday would precipitate a market collapse—driven in particular by concerns over bondholders being made partially liable for bank debt. This was explicitly ruled out, although a vague commitment was made by EU member states to consider imposing sanctions on bondholders after 2013.

Even such a limited proposal was too much for financiers. As European Central Bank policy-maker Christian Noyer warned, “As far as I’m concerned, I exclude that there will be haircuts [for bondholders] in the future. It will be a major objective of all members of the EU to do everything necessary to be in a position to fully honour their debts in the future. I exclude this as an eventuality even if it’s legally possible.”

Read entire article.http://www.blacklistednews.com/index.php?news_id=11744

Views: 30

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a photo
2 hours ago
Doc Vega posted a blog post

Photographer Joe Adams Disappearance in Sierra Nevada’s

     The year is 2023 in September. A nature’s photographer and experienced survivalist, Joe Adams…See More
12 hours ago
Sandy posted a video

Aron Siri's opening statement, Senate Hearing on Covid Vaccines, May 25

Opening statement Aaron Siri, Managing Partner, Siri & Glimstad, L.L.P.Senate Homeland Security and Governmental Affairs, Permanent Subcommittee on Investiga...
17 hours ago
cheeki kea replied to cheeki kea's discussion Tartaria
"A smidgeon of facts have come to light. In English a misspelling suddenly occurred where an extra R…"
20 hours ago
Doc Vega posted a blog post

The Cancel Culture Vulture

  Better to shut them down than hear their point of viewCancel culture coming after youHelping to…See More
Saturday
Doc Vega posted a photo
Friday
Doc Vega posted a blog post

The Fingerprint

The Fingerprint On a dance with the unpredictability of the signals you sendA solemn pact with my…See More
Friday
Sandy posted a video
Friday
tjdavis posted a video
Thursday
Burbia replied to Burbia's discussion Trump Receives Marching Orders
Wednesday
Less Prone favorited Burbia's video
Wednesday
Less Prone replied to Burbia's discussion Trump Receives Marching Orders
"Bullets can be effective in reinforcing ownership."
Wednesday
Burbia posted a discussion

Trump Receives Marching Orders

Netanyahu has made 3 visits to the White house since Trump's second term as President of the United…See More
Jul 9
Burbia commented on Burbia's video
Thumbnail

Ben Shapiro Just LOST HIS MIND — There's No Coming Back From This

"Omg. The Ben Shapiro voice that Luke is imitating here couldn't be any more comedic to…"
Jul 8
Burbia posted a video

Ben Shapiro Just LOST HIS MIND — There's No Coming Back From This

Get the magnesium your body needs - https://wearechange.shop/product/magnesium-glycinate/Ben Shapiro Just LOST HIS MIND — There's No Coming Back From ThisHig...
Jul 8
cheeki kea posted photos
Jul 8
Doc Vega posted blog posts
Jul 7
Burbia posted a video

A few reasons I don’t like jews. It’s not complicated.

These are the reasons I became antisemitic. It’s not complicated. Sure, I could go on for days, weeks, months outlining everything, but I don’t need to. This...
Jul 6
Doc Vega commented on Doc Vega's blog post Unusual Discoveries and Headlines
"Less Prone, Thanks Buddy! I'd like to volunteer as a historical reconstructionist! "
Jul 6
Less Prone left a comment for t.me/TheIntelligenceLibrary
"Welcome to a revolutionary concept in public communication, the truth."
Jul 6

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted