Enda Kenny, Daniel O Donnell and Nikolai Ceaucescu

October 7, 2012

1.

“Ceaușescu’s political independence from the Soviet Union and his protest against the invasion of Czechoslovakia in 1968 drew the interest of Western powers, whose governments briefly believed that he was an anti-Soviet maverick and hoped to create a schism in the Warsaw Pact by funding him. Ceaușescu did not realise that the funding was not always favorable. Ceaușescu was able to borrow heavily (more than $13 billion) from the West to finance economic development programs, but these loans ultimately devastated the country’s finances.”

Enda Kenny’s compliance to the needs of bankers and foreign bondholders he has refused to demand debt writedown  from except in a meekly embarrassing way, has made him a celebrated collaborator of vested interests currently looting Ireland.

Once again his team of negotiators Prof Honahan and Eamon Gilmore included will return empty handed from the halls of Europe in another embarrassing climbdown from the task of negotiating debt writedown for Ireland.

Now he is cited by Time Magazine to the astonishment of those living in Ireland as somehow leading an Celtic economic comeback. The question of debt writedown or unsustainable levels of debt in excess of 120% of GDP making long term default a certainty is ignored. Similarly Ceaucescu was feted and conferred with honours from all the leading countries in Europe, France and UK before his eventual fall.

Enda Kenny has achieved nothing sofar in negotiating debt writedown for Ireland. Lies and false propaganda stalk the land where the looting and pillaging of the public service is masked instead as the task of making the public service more efficient!

Its not that the levels of emigration have gone up from 40000/yr pre downturn in 2008 during boom years 2006/8 to current 80000+ annually driving out .25 million people sofar since end of 2008, but its the breakdown of age categories of those on the move that should provide most concern. Its not of great concern to Enda Kenny as otherwise such people would be leaking social welfare payments or on the streets. But these are highly educated and skilled young people that are the lifeblood of the country.

Enda has focused on attacking the vulnerable and the poor while protecting the rich. Tax exiles, those on higher incomes, those in well paid public service jobs, the older generation owning their own houses bought prior to the housing collapse who perhaps/probably no longer have mortgages to pay, are his backbone. He panders to them and to the ECB who fund Ireland’s borrowing requirements when no one else will.

Because of this sell out of Ireland’s young people, little is done to help Ireland’s collapsed economy particularly the 1/12 those in arrears and on mortgage default. Kenny, the stooge of foreign bankers, has ensured there will be no horror here, such as:

““The island’s households were helped by an agreement between the government and the banks, which are still partly controlled by the state, to forgive debt exceeding 110 percent of home values. On top of that, a Supreme Court ruling in June 2010 found loans indexed to foreign currencies were illegal, meaning households no longer need to cover krona losses,”Bloomberg Newsreported.”

2.

Enda will not make any unilateral stand and simply say ‘No’, the promissory note repayments of annual euro3.1 bn debt will not be paid to repay Anglo’s gambler debt by Irish taxpayers.

Instead, we are led by an embarrassing procession of Irish negotiators heralded by an embarrassing procession of male/female cretin ivory hall, careering salivating champions of Europe. On junket salaries and public service careers these want more Europe instead of less. Some speak like mebers of a scientology cult, they demand appeasement of foreign banker calls for austerity to get money back from the Irish taxpayers at expense of long constructed public services. Attacks on inefficient public services are commonplace to disguise the looting and pillaging of these services.

Truly Enda is the Daniel O Donnell of european politicians playing to an elderly of white heads out to protect their assets from any further erosion by young or old. As long as ECB continues to give us money, Enda will dance any tune made for him.

Rather than leading a Celtic revival of Ireland’s economy, Enda Kenny is leading the Irish economy to its Waterloo. He’s yet to impose the real cuts next budget that will test his mettle and government as it cuts the Irish economy further below the knees.

I won’t mention the irony of looking for debt writedown for Ireland that fulfills all the profiles there are for economic default with stories that paint Ireland as returning to economic stability led there by Enda Kenny’s sceptre and crown given him by Time magazine.

I regularly read Time Magazine and will of course complain to its european editors on its inaccurate and false feature on Kenny.

3.

I wonder did the reporter and Kenny do cups of tea. Matt Taibi’s of Rolling Stone magazine are in short supply.

Is Time Warner , one of the largest corporations in the world , afraid some of its investment stock might be burned in an Irish default? Meanwhile Ireland’s political establishment of stroke politics and ministerial clinics ensure that the real story of Irish debt default schenanigans are kept firmly off the table deferred into the future mists of complex negotiations that will be adjourned and reorganised into different expectations and timelines and hidey holes.

More to come.

1. http://en.wikipedia.org/wiki/Nicolae_Ceau%C5%9Fescu#Foreign_debt

2. http://truththeory.com/2012/06/11/iceland-forgives-mortgage-debt-to-save-its-economy/

3. http://www.rollingstone.com/politics/blogs/taibblog/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-20120515

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