FF/Green Party announce 353 fewer SNA posts

Minister for Education Mary Coughlan has told the Dáil that 353 fewer special needs assistants will be sanctioned following completion of a review of special education. Link.

FF (and the Green's are not blameless either) are directly responsible for the mess this country is in at the moment. Billions to bail out the banks yesterday ... who better to pay than intellectually disabled children?

The next time Paul Gogarty claims that the Green Party managed to reverse the education cuts imposed by the FF/Green Government, he should be reminded of this.

And if all this wasn't bad enough Anglo Irish Bank paid top management €19m in the 15 months to the end of last year, including €7m in salaries and €1m in directors' fees. Link.

So, Anglo bosses keep their huge salaries and bonuses, while intellectually disabled children pay to clean up the mess.

Words escape me. They really do.

Knowledge Economy ... what knowledge economy???

Recent research has found that almost 10% of second level schools have been forced to drop Physics as a subject offered to students. The findings indicate that the decision is as a direct result of education cutbacks ... the very same education cutbacks supported by the Green Ministers and TD's.

The Irish Independent editorial also comments on this.

Next time we hear Minister Ryan talking about the "green economy" or the "knowledge economy" he should be asked how his direct support of education cutbacks helps to achieve either.

Green Party Founding Principles

The Green Party have seven founding principles. These seven principles were adopted by consensus by Comhaontas Glas at its foundation.

The seven principles are as follows;

1. The impact of society on the environment should not be ecologically disruptive.
2. Conservation of resources is vital to a sustainable society.
3. All political, social and economic decisions should be taken at the lowest effective level.
4. Society should be guided by self-reliance and co-operation at all levels.
5. As caretakers of the Earth, we have the responsibility to pass it on in a fit and healthy state.
6. The need for world peace overrides national and commercial interests.
7. The poverty of two-thirds of the world's family demands a redistribution of the world's resources.

These principles were elaborated and expanded in the revised 1997 Constitution.

Hmmmmm.

This gives rise to a number of questions.

How is it possible to reconcile what's happening in Shannon with the 6th principle of the Green Party?

How is it possible reconcile the cut in overseas development aid with the 7th principle of the Green Party?

How is it possible to reconcile Green Party support for NAMA with ANY of the principles of the Party?



The Green Party also state they are for...
1. More decision-making at community level.
2. Open government.
3. A basic income for all citizens.
4. Renewable energy and Recycling.
5. Full implementation of the Good Friday Agreement
6. Workers' co-ops and small family businesses.
7. Emphasis on public transport.
8. Non-violent direct action.

And against...
1. Pollution of air, sea and land.
2. The depopulation of the countryside and over-crowding in the cities.
3. Control of industry by large national and multinational companies.
4. Nuclear weapons and nuclear power.
5. Land and property speculation.
6. Both state and paramilitary violence in Northern Ireland.
7. The exploitation of the third world.
8. Exploitation of animals.

Again, its difficult to see how the actions of the Green Party in Government correlates with what they are supposedly for and against.

Eamon Ryan claims Ireland "would probably then have to leave the Euro"

Karl Whelan over on irisheconomy.ie says it was truly depressing to hear Eamon Ryan raise the prospect of Ireland having to leave the Euro.

On RTE’s Saturday View program, Minister Eamon Ryan said the following in relation to Anglo Irish Bank:

"It would be so nice if we could say we’ll let it go and that will be the end of that. The reality is … and that’s kind of Fine Gael’s position and what Labour seems to be saying. There are .. That means that we have to go and effectively say to the European Central Bank, who has a lot of money in deposit in Anglo, and say sorry we can’t pay you back. Now the European Central Bank, it hasn’t allowed a bank fail across Europe. So we would probably then have to leave the Euro. Now the risk of that, in terms of the tens of thousands of jobs that could leave this country because they’d say well Ireland is a riskier country to do business in, we don’t really want to do business there. That is what you’re talking about. So, it’s not easy, it’s not palatable but that’s the choice you’re faced with."


When RTE political reporter Brian Dowling then discussed the idea that there were alternative options to take, Minister Ryan confronted him saying “Do you think we should leave the Euro?”

Karl Whelan sets out the true facts as follows.

1. Whatever happens with Anglo, Ireland will not be leaving the euro. Minister Ryan’s assertions that we would essentially be expelled from the Euro if an Irish bank failed to pay back the ECB are groundless. This is not just my opinion. An ECB legal working paper summarises this issue as follows: “while perhaps feasible through indirect means, a Member State’s expulsion from the EU or EMU, would be legally next to impossible.”

2. The ECB has always been aware that it could lose money from making loans to a bank that is then unable to pay it back. This is why its loans to banks are all collateralised, based on a well-developed list of eligible collateral. This list does not include development loans. While it is still possible for the ECB to lose money on its loans to a failing bank (if the collateral turns out not to be worth the value of the loan) there has never been any rule that such an event would result in the country the bank resided in having to leave the euro.

3. There are, in any case, options for dealing with Anglo’s insolvency that could save the taxpayer money without going as far as failing to repay its ECB loans. For instance, Anglo could be declared insolvent and its subordinated bondholders fail to be repaid, while the Irish government could choose to pay back other more senior creditors. There are serious issues to discuss here. The prospect of leaving the Euro is not one of them.

The bottom line here is that Minister Ryan’s statements about leaving the Euro are without foundation. However, it is perfectly possible that they could form the basis for unfounded speculation that Ireland is somehow on the verge of leaving the Euro.

So, as Ireland takes the biggest financial decision in the history of its existance, the consistent evidence that senior Ministers do not understand the banking situation is extremely worrying.

Kark Whelan over on http://www.irisheconomy.ie/index.php/2010/03/27/ryan-save-anglo-or-leave-the-euro/, it was truly depressing to hear an Irish minister today raise the prospect of Ireland having to leave the Euro.

On RTE’s Saturday View program, Minister Eamon Ryan said the following in relation to Anglo Irish Bank:

It would be so nice if we could say we’ll let it go and that will be the end of that. The reality is … and that’s kind of Fine Gael’s position and what Labour seems to be saying. There are .. That means that we have to go and effectively say to the European Central Bank, who has a lot of money in deposit in Anglo, and say sorry we can’t pay you back. Now the European Central Bank, it hasn’t allowed a bank fail across Europe. So we would probably then have to leave the Euro. Now the risk of that, in terms of the tens of thousands of jobs that could leave this country because they’d say well Ireland is a riskier country to do business in, we don’t really want to do business there. That is what you’re talking about. So, it’s not easy, it’s not palatable but that’s the choice you’re faced with.

When RTE political reporter Brian Dowling then discussed the idea that there were alternative options to take, Minister Ryan confronted him saying “Do you think we should leave the Euro?”

I think that these are extremely unfortunate statements for an Irish government minister to make.

The facts are as follows.

1. Whatever happens with Anglo, Ireland will not be leaving the euro. Minister Ryan’s assertions that we would essentially be expelled from the Euro if an Irish bank failed to pay back the ECB are groundless. This is not just my opinion. An ECB legal working paper summarises this issue as follows: “while perhaps feasible through indirect means, a Member State’s expulsion from the EU or EMU, would be legally next to impossible.”

2. The ECB has always been aware that it could lose money from making loans to a bank that is then unable to pay it back. This is why its loans to banks are all collateralised, based on a well-developed list of eligible collateral. This list does not include development loans. While it is still possible for the ECB to lose money on its loans to a failing bank (if the collateral turns out not to be worth the value of the loan) there has never been any rule that such an event would result in the country the bank resided in having to leave the euro.

3. There are, in any case, options for dealing with Anglo’s insolvency that could save the taxpayer money without going as far as failing to repay its ECB loans. For instance, Anglo could be declared insolvent and its subordinated bondholders fail to be repaid, while the Irish government could choose to pay back other more senior creditors. There are serious issues to discuss here. The prospect of leaving the Euro is not one of them.

The bottom line here is that Minister Ryan’s statements about leaving the Euro are without foundation. However, it is perfectly possible that they could form the basis for unfounded speculation that Ireland is somehow on the verge of leaving the Euro. I would urge Minister Ryan to issue a clarifying statement correcting these assertions as soon as possible.

As we await perhaps the most momentous set of financial decisions ever taken by an Irish government, the consistent evidence that senior Ministers do not understand the banking situation is extremely worrying.