Ireland Goes Bust

[Jan Klimkowski]

Decades of treating developing countries like shit has provided the IMF with lovely manners:

Property tax on way within year

Friday April 01 2011

THE (Irish) Government has been ordered by the EU/IMF to impose a property tax on all homeowners within a year.

The controversial annual tax is expected to be announced in December's Budget -- even though it was not in the Programme for Government.

The imposition of the tax and the precise timeline for its roll-out are key requirements for Ireland to avail of the EU/IMF €85bn bailout package.

And the Department of the Environment confirmed that the tax will rise within a year of being introduced.

Details of how and when the so-called 'site-valuation tax' will be introduced and increased are in a briefing note prepared by civil servants for Environment Minister Phil Hogan. The document has been obtained by the Irish Independent.

Under the heading "EU/IMF requirements", the document states that Ireland must "adopt a property tax by end Q4 (quarter 4) 2011", adding that this tax must then be increased by the end of 2012.

The Fine Gael/Labour Programme for Government said only that such a tax would be "considered".

http://www.independent.ie/national-news/...03975.html

Market Ticker's Denninger's response is typically concise:

EU/IMF Declares War On Ireland

Yes, I meant it:

THE Government has been ordered by the EU/IMF to impose a property tax on all homeowners within a year.

To the Irish: How do you respond when someone declares war on you?

You've had war declared upon you. The only determination left is whether that war is an invasion of your sovereign land by a foreign power or whether your own government has declared war on you as a consequence of bribery and extortion by a foreign power.

Either way, it's war. You are a sovereign people and a sovereign nation.

You have an inalienable right of self-defense.

You now must either exercise that right or lose it forever.

http://market-ticker.org/akcs-www?post=183436

As predicted, Chicago School economic Shock Therapy has now been transported from the Third World to the First.

And yet ordinary working people are still largely buying the bullshit of "we're all in this together"...