Time to stop dithering, and do what the people AND the markets want

The more it drags on the worse it gets. Ireland is facing savage cuts followed by insolvency, and the rest of the Eurozone is looking like a house of cards.


It's time this government grew a spine and did the right thing.


Burn the holders of bonds in the zombie banks. Just do it. Merkel wants us to do it, the IMF wants us to do it, the markets want certainty, so they can move on.  And everyone knows that the Irish people don't want to pay off the debts of banks, to people we didn't borrow the money from.


We've already paid out over 60 billion euros to bank bondholders, and according to figures available on namawinelake and bondwatch, there's at least another 64 billion that expires soon. How can we pay that? Borrow from the markets at 14% to pay off bonds that the state didn't even issue ? Even if the Greeks think we are sheep, we can't be THAT obedient can we?

Let's find out.

New Dictionary definitions thanks to NAMA and FF

Dictionary of NAMA.

Bailout (verb, noun)

1. To remove water from a flooded area, such as Cork or Galway after a river breaks its banks.

2. To put taxpayers money into a bank after it has been broken by unregulated greed.