Traitors

December 1st, 2010 | by Andrew Ó Baoill |

I’ve been advocating, privately, the prosecution for treason of David Drumm and other Irish former bankers who are manipulating foreign and domestic bankruptcy proceedings to retain their ill-gotten gains. Having made their fortunes by fuelling a speculative bubble, they then engage in clearly deceptive tactics to avoid their personal responsibilities during bankruptcy proceedings, move overseas to get beyond the scope of Irish law, and have the gall to sue the Irish state for losses in the value of their bank shares, after their pyramid schemes came crashing down. These people are traitors to their nation, and among the lowest form of scum.

Now the Irish government is engaging in another form of treason. The government is signing off on an agreement with the IMF and others, in which they commit the state to changing the retirement age, introducing water charges, and to cut social welfare rates, among other things. These changes are to take place at set times – many of them after the next election will take place. As a parliamentary democracy (and in line with the Irish constitution) international agreements, particularly those which involve charges on the public purse, must be approved by the Oireachtas.

The government, however, is refusing to get parliamentary approval for the MOU – though it has deigned to publish (most of) the text of the agreement. The role of the government is govern, within the legislative bounds set by the legislature. In this case we have a government which is seeking to tie the hands of the legislature and future governments, and which is refusing to submit the agreement for parliamentary approval. Why is that? Joan Burton may have the answer, noting that:

Distinguished economist, Professor Barry Eichengreen, wrote in Germany’s financial daily, Handelsblatt, today that: “Ireland will be transferring nearly 10 per cent of its national income as reparations to the bondholders, year after painful year.”

Traitors. And perhaps a lower form of scum.

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