The Troika ‘bailout’ programme ended on the 15th December, we are advised that we are emerging successfully from the economic crisis and are ready to re-enter ‘the markets’.

Imagine a problem gambler being promised that once they have paid their losses they will be allowed straight back into the bookies office – that they should aspire to this, a sign of prosperity?

Except of course in our case the ‘gambler’ was not the Irish people and the debts that we are forced to pay are not ours.

As the Troika prepares to leave we are told we have done very well, that it’s been difficult, they say, but now we are saved and the future is bright.

I don’t feel saved.

The cold reality is that NONE of the €69.7 billion ‘bailout’ was spent in Ireland, it was all given directly to banks and bondholders.  None of the debt was ever ours, it represents gambling losses by investors and private banks.

Worse, our representatives in successive Governments helped cover up the scandal, the regulators didn’t regulate, the auditors took their fees and did nothing.  These same representatives of vested interests are the ones covering up the truth of the Troika’s role today and they are enriching themselves in the process.

We are enduring the highest rate of emigration since the Famine of the 1840’s, our senior citizens, our children, our health are all victims of the Troika’s work and the co-operation it has received from our public representatives.

What do you think?

by Diarmaid Ó Cadhla, @GraTire

This article first appeared in the Douglas Post, page 27, on 12th December 2013.