David McWilliams summed up what many banks
actually are when he wrote, "some of the banks were exposed as little more
than Ponzi-scheme operators" (Irish Independent, 29 August 2012 ).
What is left of our economy now is the end-game
of what was a giant Ponzi scheme once heralded as 'the Celtic Tiger'. The
country keeps borrowing more money that it can't pay back, putting off the date
of the end-game. Meanwhile, the Government arrogantly penalises yet again the
most vulnerable of our society: the elderly, the sick, and the dying. Next will
be the unemployed, education, and homeownership.
This is a form of appeasement to
bondholders, institutional corruption, the banks and the IMF.
For now, higher up the food
chain, there are little or no reductions in minister's salaries, or in the pay
of public servants
in our health and education systems. They
number in the tens of thousands and their salaries and pensions combined are in
the tens of millions.
The Sligo county manager whose salary is
€136,000 per annum, replied dryly to the assertion that he was being paid
€30,000 more than the Spanish prime minister: "I am surprised that the
Spanish prime minister earns so little."
Barry Clifford
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