Tomás Ó Flatharta

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“The Promissory Note Deal – A Three Card Trick” OR “another step forward towards the day when we can finally face forward as a people”

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A friend of this blog has unearthed a gem from the Irish Labour Party Presently participating in a coalition government with Fine Gael, under the leadership of Enda Kenny and Eamon Gilmore :

This is what the Labour Party are sending to their councillors today. I’d like to say its delusional but they are not that this stupid, although they obviously think some of their elected officials are. Fair play to Cian O’Ceallachain for publishing this stuff, going against the grain is never easy no matter how stupid it is…

“Farewell to Anglo!
Last night’s legislation brings an end to Anglo Irish Bank and the Irish Nationwide Building Society. These two institutions, names that will live on in ignominy, are forever associated with the recklessness and greed of a tiny clique that brought this country to the edge of financial ruin. These banks, the people who ran them and the golden circle around them were at the very roots of the crisis that has caused so much distress to the Irish people.

In liquidating this institution, we are doing what should have been done on the night of the blanket bank guarantee.

This is another step forward towards the day when we can finally face forward as a people, when the past can finally recede into the distance and when Ireland and the Irish people can see the future that they truly deserve”

Commenting on this one writer suggested

Whoever wrote that is wasted in the Labour Party. Should be out there writing sci-fi

Our Literary Prize Panel agreed unanimously.

Words may fail you, so we present an alternative view from the blog of United Left Alliance TD Joan Collins :

Now you see it, now you don’t. Nobody should be fooled by the government spin on the deal negotiated with the ECB on the debts run up by Anglo Irish and Irish Nationwide. Not a cent of the almost €35 billion poured into these two insolvent banks has been written down. This deal seals the fact that these debts have been fully socialised, that is transferred as a burden onto the Irish people.

Web Link :

Promissory Note Deal Is A Three Card Trick

The Irish government fast-tracked a new law through the Dáil, perhaps scared of a legal case taken by David Hall :

Once upon a time a failed private bank, under criminal investigation, got an IOU/promissory note from the State to pay off its bondholders. In 2011, we voted in a government that promised to tackle this blatant injustice. Last week they defended a legal challenge against the promissory notes. Then, hours before the Supreme Court could hear the appeal, in the dead of night, they rammed emergency legislation through the Dail that transfers those debts from the IBRC/Anglo (an institution we own, and with whom we could have negotiated a write-down or even a write-off of the debt) to the European Central Bank (which is legally prohibited from writing down, or writing off any of this debt – even if they wanted to. Which they don’t.)

So the ‘soft’, legally-suspect, promissory note debts, were turned into legally-sound, ‘hard’, non-negotiable, sovereign debt – without a single cent of it being written off.

In other words, the people paid to represent us have shafted us, and our children and grandchildren. But they still call it a ‘deal’ – kind of like an upgrade, to sit closer to the captain on a Slave Ship. Section 17 of the legislation now gives the Minister for Finance unprecedented powers to restructure these promissory notes with the Central Bank – without oversight and without a vote in the Dail. The terms of this ‘deal’ are being discussed now at: http://www.thejournal.ie/promissory-notes-michael-noonan-786949-Feb2013/

From this we will learn about ‘savings’ on the interest we’ll pay on this illegitimate debt, and how much icing sugar they intend to sprinkle over the shit sandwich they’ll be force-feeding us over the next few decades.

A delusional Jellyfish Spineless Labour Party has confused surrender and victory.

Gilmore’s outfit is going down in the opinion polls :

Labour Pains in 2013 Opinion Polls

Labour’s Way is now the Gormley-Green Way –

https://tomasoflatharta.com/2011/03/10/the-february-25-general-election-changed-something-in-ireland/

Any bets on how low the Labour Party and Fine Gael will dip in the next opinion polls and real elections?

We need an anti-coalition and anti-capitalist left which has the backbone for a fight, a physical feature absent from the jellyfish Labour Party.

Greek Lessons For the Irish Far-Left – Maybe the current government is wobbling again?

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Plenty of interesting ideas here for fighting left – the current Kenny-Gilmore Government might not be as stable as it appears, despite its bloated parliamentary majority.

NAMA Wine Lake

Apparently, former Taoiseach Brian Cowen was none too happy with the two nude paintings of his corpulent frame hung by a “guerilla artist” in the National Gallery in 2009.  Our nakedness can be a great leveler, and how quickly the veneer of unchallengeable respectability fades away when an image is planted of you naked sitting on a toilet gripping loo-roll.

We are presently seeing a slow striptease by Minister for Finance Michael Noonan of the impenetrable and seemingly interminable promissory note negotiations. We still don’t know who is negotiating on behalf of Ireland, though apparently it’s employees of the Department of Finance, the Central Bank and the NTMA.

But the shield of “technical and complicated reengineering” of the debts shouldered by us all in respect of the promissory notes given to three institutions, including Anglo, is slowly being lowered as we get a sinking feeling that negotiations, that have been…

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The Socialist Party leaves the United Left Alliance

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Socialist Party leaves the ULA

by Henry Silke

Last Saturday the Socialist Party (CWI) posted an article on their website announcing the end their membership of the United Left Alliance. This was one of the least surprising political events of the Irish left as the Socialist Party had been steadily moving away from the alliance for over a year.

The SP have given two reasons for leaving the alliance firstly it’s unhappiness with ex Socialist Party TD Clare Daly’s continued political relationship with Mick Wallace, a left leaning populist who became embroiled in a tax evasion scandal. Clare Daly had been closely allied to Wallace in the promotion of an abortion rights bill and most recently in the exposure of a practice where privileged members of society were being cleared of driving charges, something brought to the TDs, by whistle blowing members of the Irish police force. Clare Daly herself had resigned from the Socialist Party (and re-designated herself as a ULA TD) some months ago citing the Socialist Party’s lack of enthusiasm towards building the ULA. Read the rest of this entry »

Labour MEP Nessa Childers Calls for a General Election

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Childers call for a general election should be endorsed by all left TD’s opposed on principle to coalition with the right.

The Cedar Lounge Revolution

LP MEP Nessa Childers tweeted last night in relation to the latest news that the ECB is ruling out this particular ploy by the Irish government. Hmmm… not looking good for the ambitions of the latter in relation to these matters.

Very depressing news re ECB. The people need to be consulted about the future at this point. That means a general election.

That’s a very good point about democratic legitimation.

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Legislate for X – Repeal 1861 Act now – Repeal 8th Amendment to Constitution

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An Irish Government finally agrees to legislate for abortion – a very significant victory for women, a practicfal example of the power of mass mobilisation politics – NEVER AGAIN

United Left Alliance Statement :

Legislate for X – Repeal 1861 Act now

Repeal 8th Amendment to Constitution

The ULA welcomes the government’s declaration that legislation for the X Case ruling of the Supreme Court in 1992, despite a delay of twenty years, will finally be brought in next year. There is no need to delay however, in the repeal of Sections 58 and 59 of the 1861 Offences Against the Person Act. This piece of repressive law, retained from the time of British rule, makes abortion a criminal act with severe penalties for women and doctors. We call for the immediate repeal of this legislation. Read the rest of this entry »

Written by tomasoflatharta

Dec 18, 2012 at 10:12 pm

A major mistake by the Red Green Alliance – International Viewpoint – online socialist magazine

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http://www.internationalviewpoint.org/spip.php?article2820 Lessons here for all forces favourable to building new anti-capitalist parties – some issues are non-negotiable principles.

Labour Senator considering Social Welfare Bill – RTÉ News

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http://www.rte.ie/news/2012/1216/social-welfare-bill.html This is interesting; it is reported elsewhere in the mainline media that the Kenny-Gilmore government may struggle to win a budget majority in the Seanad, delaying implementation of the Noonan-Howlin austerity juggernaut by 90 days. Any thoughts?

Baseline Benefits are under attack: ULA statement | United Left Alliance

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DCTU: Budget Day Demonstration

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Dublin Council of Trade Unions,

Mandela House,

44, Lower Gardiner Street, Dublin, 1

 

Dublin Council of Trade Unions

 

‘Budget Day Demonstration’

 

 

As a first follow up to the marvellous show of unity and determination on Saturday 24th November the Dublin Council of Trade Unions is asking all those who came out to reconvene on Budget Day, Wednesday 5th December, at the Dáil at 4 pm.

 

Come along with your banners.

 

Mick O’Reilly

President

Tom Simpson

Vice President

Sam Nolan

Secretary

 

Contact: 087 2101370 or dctuforum@gmail.com or the above address.

Blue News for Fine Gael – 85% Want X Case Legislation

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The latest credible Sunday Business Post Opinion Poll shows the Fine Gael-Labour Coalition would lose office if a General Election was held soon. In addition 85% of people polled favour abortion legislation on the X Case Supreme Court Judgment. As usual Adrian Kavanagh has published an excellent analysis – Paddy Healy and this writer have submitted comments.

Irish Politics Forum

Adrian Kavanagh, 1st December 2012 

Tomorrow’s Sunday Business Post-Red C poll offers grim reading for Fine Gael, with the party support levels down six percentage points on the previous such poll.  This poll puts national support levels for the main political parties and groupings, and relative to the most recent Sunday Business Post-Red C poll on 28th October 2012, as follows: Fine Gael 28% (down 6%), Labour 14% (up 1%), Fianna Fail 20% (up 1%), Sinn Fein 17% (NC), Green Party 3% (up 1%), Independents, United Left Alliance and Others 18% (up 3%). My constituency-level analysis of these poll figures estimates that party seat levels, should such national support trends be replicated in an actual general election, would be as follows: Fine Gael 53, Labour 21, Fianna Fail 36, Sinn Fein 25, Green Party 1, United Left Alliance 4, Independents and Others 19. 

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Written by tomasoflatharta

Dec 3, 2012 at 12:28 am