Celtic Tiger is as good as dead

True Economics: 14/1/2012: Irish banking crisis – on a road to nowhere:

“The latest data clearly shows that the major risk of Irish banking sector becoming fully dependent on ECB as the core source of funding is now a reality. “

When your core source of funding is an institute whose ‘assets’ consist of the non-performing debts of bankrupt nations, the suffering of millions is inevitable. The Irish government will continue to speak of a ‘solution’ and ‘recovery’, as if the former and the latter are possible within the current system of democracy. They will continue to lie fully aware that the only solution (default) is the very thing they won’t do and therefore they will prolong everyone’s suffering, instead of minimising it.
Advertisements

Got thoughts?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s