These aren't our debts, they should be shouldered by the bankers whose reckless behaviour fuelled this economic crisis. But the government is about to pay the next slab of the total €47 billion we're said to owe -- despite the fact that Anglo’s conduct is currently under police investigation. With opposition growing, there are already calls from some ministers to stop these payments and invest the money in our economy -- and if we act now we can help tip the balance.
We only have until March 20 to tell the Finance Minister Noonan and all TDs that the Irish people don’t consent to bearing the costs of a crisis we didn’t create and want this money to rebuild our economy. Sign the petition now to make sure the government uses its power to stop these payments, then tell everyone:
/en/petition/Stop_The_
The weight of a debt on Ireland’s economy is enormous, and will cripple us for years to come. Ireland has committed to repaying €3 billion a year for the next ten years or more, which means our sons and daughters will be suffering the effects of Anglo’s collapse for the next decade. The money would go to line the pockets of nameless bondholders that recklessly lent to Anglo, and to the European Central Bank to reduce the value of its liabilities: the money is effectively destroyed.
But there is another option -- the Irish government can immediately suspend payments and start negotiations with the European Central Bank and others to reduce the debt to a manageable level. This would free-up the money needed to get our economy going again, actually helping Ireland afford a fair level of future payments. Economists say that any damage to our market reputation would be small -- and far better than the alternatives available.
The next Anglo repayment is due on March 20 so time is running out. Click the link below to send a message to Minister Finance Michael Noonan and the other TDs that this money should be used to maintain public services and provide a desperately needed stimulus to the depressed economy.
/en/petition/Stop_The_
There is growing movement around the world protesting against the repayment of illegitimate debts. Demonstrators in Europe, Asia and Latin America are publicly fighting the crippling debts they suffer through no fault of their own. This is our chance to strengthen that movement -- tell the Government that we citizens of Ireland want our money invested in our public services not sent overseas to pay off a debt we had no responsibility for.
In hope and solidarity,
Alex, David, Rich, Wen-Hua, Andrew, Michelle, Veronique and the rest of the Avaaz team
SOURCES
“IMF notes 'consensus' on Anglo debt” Irish Times (2 March 2012)
http://www.irishtimes.com/
“Irish campaigners demand halt to repayment of Anglo Irish Bank debts” (18 January 2012)
http://www.guardian.co.uk/
“Paying back banks’ billions” (23 February 2012)
http://www.irishtimes.com/
“IMF Urges Europe to Support Ireland” (2 March 2012)
http://online.wsj.com/article/
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