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Press Statement 23.11.10

£7 billion to protect banks, bondholders and bonuses

The £7 billion promised for Ireland by Mr Osborne endorsed by the millionaire’s Con-Dem cabinet is not to save jobs or the welfare state in either Britain or Ireland but to protect the interests of the banks, bondholders and there bonuses. The process is being pressed in place by the bully boys from the IMF, EU Central Bank and European Commission. They are soon to tour Lisbon in Portugal followed by Madrid in Spain.

   However wrapped up and spattered with crocodile tears about “friends in need” the pattern is an EU common policy in line with the European Constitution (ironically aka Lisbon Treaty). This was put in place one year ago with capitalism as the only economic system permitted.

   What is at stake is the national independence and democracy of these EU Member States including Britain where the austerity policies and budgets have to be approved by Brussels. EU Member States are now subjugated to the Euro-federalist government in Brussels consisting of EU institutions and EU policies.

   With powers of national governments passed to Brussels democracy is all but beheaded.

   Currently the only institution to prevent finance capital dictating via the conduit from Brussels is the national government. What is required is to clean out the stables and put in place governments that act on behalf of the peoples in their countries and stand up to finance capital and banks. That requires the left to head up a movement including the labour movement to oppose this unprecedented and savage attack on all aspects of life and put the tottering structure of the European Union out of its misery.