European Banking Crisis

Ireland must go back to the EU and be honest about the fact that we cannot pay this ever spiralling mountain of debt.  If we don’t do it now then we will face interest payments in the near future which will amount to over €10 billion per year, in other words one third of this year’s tax take.  This will in the end force us to default anyway.  To make matters worse the EU are profiting on our misery by charging us almost 3% more than what they pay for the money in the first place. Given that it was on EU advice that we guarantee the banks then we should not be lumbered with the consequences of their stupidity.

I have since October studied a Diploma in Economics lectured by David McWilliams in Dublin.  I have heard expert opinion from a variety of reputable and experienced sources.  Every one of them has come to the same conclusion.  It is morally and economically wrong to expect the ordinary Irish tax payer to pay the banks debts.