Ireland - 'Financially Vaporised'

Following from my posting below on 'Democracy - Defied and Denied,' Mary Ellen Synon, in her Daily Mail blog, this morning, has a brilliant exposure of the farce which occurred at Helsinki, linked here, from which comes this startling quote:

In the present crisis, ‘Ireland experienced an increase in Government debt of circa 220 percent.’ In historical terms, the Reinhart-Rogoff research shows that an 86 percent debt level increase would classify us as being seriously bust. But 220 percent would, as Dr Gurdgiev puts it, classify us ‘as having been financially vaporised.’

We have been financially vaporised because the out-going Finance Minister was obedient to Jean Claude Trichet, the head of the European Central Bank. Mr Trichet told the Minister to guarantee all the bank debt and the Minister obeyed. This debt was in great billions owed to German banks. Some to the French banks, too, but spectacularly to the German.

You must know all this by now. We have been financially vaporised so that Angela Merkel’s under-capitalised, badly-performing German state banks get back all the money they so stupidly lent to Sean FitzPatrick and the rest. That is why the Chancellor dismissed Mr Kenny at Helsinki, and why she will do so again on Friday in Brussels. If it is a choice between the truth coming out about her own country’s banking crisis, and drowning the Irish taxpayer in debt – well, as far as Mrs Merkel is concerned, just drown the Irish. Glug, glug, glug.