Ireland Goes Bust

[Jan Klimkowski]

One thought strikes me more and more - and that is what we are experiencing is a coup d'etat of the western banking system by means of an "inside job".

Yes.

Magda's posting of the insider whistleblower testimony on the previous page definitively proves that both the Irish government and EU financial regulators knew precisely how false and fraudulent the books of key banks operating in Ireland were as early as 2007.

However, across the globe, the only action taken was to cover up the truth and throw taxapayer money at banks across Europe and America. With the odd exception such as the coup de corporation directed against Lehman Brothers by investment bank rivals.

Meanwhile, the Irish opposition has called for an immediate general election:

Ireland's PM under pressure to quit

• Coalition partner demands general election
• Backbenchers in Brian Cowen's own party want him to go
• PM's credibility 'shattered' by economic bailout
• Green party says Irish 'misled and betrayed'

Henry McDonald, Lisa O'Carroll, Nicholas Watt guardian.co.uk, Monday 22 November 2010 13.43 GMT

Pressure is mounting on Brian Cowen to step down as Ireland's prime minister after one of the governing coalition's partners called for a general election and backbenchers in his own Fianna Fáil party moved against him.

Party sources have told the Guardian that backbenchers want Cowen to resign as taoiseach shortly after the country's cost-cutting budget on 7 December, saying his credibility was "shattered" after Ireland agreed to seek an international rescue package worth an estimated €90bn (£77bn).

Meanwhile, the Green party today said the electorate felt "misled and betrayed" by recent events and they now needed "political certainty".

The moves by the Greens and the pressure from within Fianna Fáil increase the likelihood of a general election in the new year.

The Greens pledged to support Cowen's administration until the negotiations with the International Monetary Fund and the European Union are concluded, but said it wanted the country to go the polls in the second half of January.

"Leaving the country without a government while these matters are unresolved would be very damaging and would breach our duty of care," the party said in a statement. "But we have now reached a point where the Irish people need political certainty to take them beyond the coming two months."

John Gormley, leader of the Greens, said he had discussed the issue with Cowen, who had expressed disappointment about their decision.

Gormley said the party had always said it would only continue in the administration as long as it would benefit the people, but leaving the country without a government would be damaging and breach is duty of care.

He said the decision was made last Saturday after a long series of meetings. At a specially convened press conference in Dublin today, he said the last three weeks had been traumatic for Irish people.

"Since entering government in June 2007, we in the Green party have worked to fix and reform the economy. It has been difficult. We have taken tough decisions and put the national interest first," he said.

Gormley said there had been significant communication problems within government in recent days, and that the Greens had not been able to receive clear answers to their questions.

Pressure on Cowen to resign had mounted today with two backbenchers breaking ranks. Cork TD Noel O'Flynn called on Cowen to step down after the budget.

http://www.guardian.co.uk/business/2010/...l-election

I hope the Irish people take to the streets and demand an immediate general election prior to any ratification of the IMF/EU Shock Therapy proposal.

As a small footnote, "Sneerer" Osborne has strong generational and political links to Ireland as a member of "The Ascendancy":

The Protestant Ascendancy (Irish: An Chinsealacht Phrotastúnach), usually known in Ireland simply as the Ascendancy, is a phrase used when referring to the political, economic, and social domination of Ireland by a minority of great landowners, Protestant clergy, and professionals, all members of the Established Church (the Church of Ireland and Church of England, both being the State Churches) during the 17th through 19th centuries and, in a portion of the island, into the 20th century. The sense of Ascendancy is seen as excluding primarily Roman Catholics, as they have comprised the majority of the Irish population island-wide, but this can be misleading, as members of the Presbyterians and other Protestant denominations, along with non-Christians, were also excluded politically and socially. Even the majority of Protestants were effectively excluded from the ascendancy, being too poor to vote. In general, the privileges of the Ascendancy were resented by Irish Catholics, who remained the majority of the population.

http://en.wikipedia.org/wiki/Protestant_Ascendancy