Much debate has arisen recently on the promissory notes debacle and its impact on the economy. The issue seems to be clouded in mystery and many people may have shied away from it believing it to be yet another complex financial problem. The reality is that such discussions are generally made to seem difficult to grasp by the establishment and its media, to cover-up the story’s scandalous nature. This is exactly what is happening with the promissory notes.
IN A graphic validation to the old adage “one law for the rich and one for the poor”, the decision of the Fianna Fail/Green Party government to buy the bad debts from the Irish banks for up to €90 billion while making cuts to the poorest sections of society in the form of social welfare Christmas payments and rent allowance is a scandal.
The premise of Fine Gael and Labour’s Programme for Government is that there is no alternative to continuing the austerity policies of Fianna Fail. socialistparty.net questions this assertion and argues for socialist policies to redevelop the economy.