Saturday, April 23, 2011

Lies and deceit over the EU Bail Out of Ireland!

The Irish Times this morning publishes details of the means whereby Ireland was compelled to surrender its sovereignty to the European Union and the International Monetary Fund. As this action was the forerunner to the final surrender of democratic governance for some 500 million Europeans, (as the Eurogroup chief, Jean-Claude Juncker, made clear to a conference this week, as reported by the EU Observer, linked here,) it is worth reading closely as a guide to how other former nation states may be brought in to line should they refuse to quietly accept economic hegemony from Germany, at present being installed with the backing of France's President Sarkozy.

I have selected certain passages which are the most critical in my opinion:

"At a meeting of EU finance ministers in Brussels on Tuesday, November 16th, the pressure on Ireland had become intense. State secretary at the German finance ministry, Jörg Asmussen who attended the meeting, said: “It was made very clear to the Irish finance minister that it is not just about Ireland. The functioning of the currency union was at stake.”
"At that meeting Asmussen’s boss, Wolfgang Schäuble, Germany’s finance minister, pressed Lenihan to hold a press conference immediately after the meeting to announce an application for aid. Lenihan responded: “I refused and said I wouldn’t participate on that basis; that my government had the sovereign right to decide how it conducted these discussions.”

...."The troika believed only radical measures had any chance of restoring confidence. Lenihan recalled: “It became clear to us that the European solution was to stuff the banks with capital and see would that generate confidence in them.” He added that the amounts involved “stunned my officials in their sheer scale and size.”

...."Lenihan said disagreement on tax issues with the commission had not been on corporate tax, but on *value added tax, with which the commission had an “obsession”, he said.

"Germany’s Asmussen provided the clearest statements to date on the reason for rejecting the government’s proposal to haircut senior bank bonds. He said it had not been tried in the past and “we have no idea how market participants and investors would react”.

When asked if other countries should share the cost of bailing out senior bondholders in Irish banks, Asmussen raised the multibillion euro cost to German taxpayers of HRE, the bailed-out parent bank of Dublin-based Depfa, saying that the major problem stemmed from its Irish operations.

*Blog editor's added emphasis, to highlight the fact that the EU's "own resources" from which these unspeakable scumbags depend for their lavish, undeserved and unearned - lifestyles, income and pensions all presently depend upon VAT

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