Sunday, May 16, 2010


Sean FitzPatrick was boss of the Anglo Irish Bank. He resigned in December 2008 when details of secret loans he had taken out with the bank were revealed. Fitzpatrick's loans totaling 155m from Anglo Irish have not yet been repaid, although he has retired on a pension of over 4 million a year.

In the 1990s, Ireland modernised its education and infrastructure.

It developed low-tax, business-friendly policies.

Overseas Irish began to return to Ireland.

Ireland became successful in exporting food, IT services and software, pharmaceuticals and medical equipment.

Ireland became one of Europe's wealthiest countries, overtaking the UK.

In spite of the property and banking crisis, Ireland’s modern economy is holding up well.

But, the bankers and their pals have caused giant problems.

In Ireland, vast sums of money went into property speculation.

Ireland now suffers from:

tax rises

pay cuts

pension cuts

and public spending cuts.

On 15 May 2010, in The Financial Times (Toxic town ) we read:

"Encouraged by venal politicians who actively discouraged regulation... Irish banks went on a reckless lending spree.

"They lent, above all, to property developers...

"Every Irish citizen got saddled with many thousands of euros in debts..."



hubris said...

blaming the pols is just tooo easy - the majority of Irish are a bunch of greedy f*%ks. The 'Really Greedy F**kers Party' (aka: Fianna fail) still managed to secure an election victory despite all the very visible evidence of sleaze and corruption.

The Irish deserve what they get. The 'Really Greedy F**kers Party' still managed to secure a 27% vote haul in the last elections which were for local and European gravy-trains)

The main alternative is the 'Slightly less Greedy F**ckers Party' a.k.a: Fine Geal - their solution to this crisis is to sell of the infrastructure and slash every 'help-the-poor'-budget in sight - almost identical to the 'solutions' offered by the 'Really Greedy F**kers Party'

Then there is the 'pretend Lefty opposition' who are merely a bunch of clueless f**ckers with a slight social conscience - possibly merely a manifestation of the Catholic Guilt drummed into them after years in the religiously-dominated sectarian Irish education system. The 'pretend Lefty opposition' is only slightly less willing to sell of the infrastructure and slash every 'help-the-poor'-budget in sight

Like i said - the Irish deserve it - the clueless wankers

Marycatherine Barton said...

Why isn't Sean Fitzpatrick in jail?

Anonymous said...

Gordon is doing some pretty good work over there.

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