Wednesday, 29 June 2011

Creeping cuts - letter to papers

TWITTER:          @ballyhea14
FACEBOOK PAGE:    Ballyhea bondholder bailout protest
June 28th 2011
Dear Sir/Madam:
Crumlin Children’s Hospital announces a €4m budget shortfall (and growing), umpteen other hospitals also in the same predicament; all are told in no uncertain terms by Health Minister Reilly that they must balance the books by the end of the year, nothing in the coffers to pay them even another euro.  Almost inevitably this will result in a reduction in services, and additional suffering for the ill, the young, the elderly.
At the same time, and with no public announcement, schools across the country are informed of the cuts in the Special Needs Teachers, the result of the Education budget cuts – another reduction in services for those most needy.
Wednesday, June 29th 2011 (courtesy of Namawinelake blog): ‘Anglo repays a €12m senior unsecured unguaranteed bond at par – i.e without any haircut or discount. The bonds (ISIN ref: XS0306086157, SEDOL ref: B1ZBPV0) were issued in June 2007 – Sinn Fein finance spokesperson Pearse Doherty yesterday described the bonds as “unguaranteed unsecured” and there is no reason to doubt him.’  A few weeks ago another €200m was paid in bonds; in November this year, another € €700m falls due in Anglo (bond ISIN ref: XS0273602622).  What would that money do for our hospitals, our schools?
IT HAPPENED IN 1846/47/48
Even as the Irish died from starvation in their hundreds of thousands, emigrated in their millions, vast quantities of Irish food left Irish harbours in ships bound for England.
At what stage are we going to wake up to what’s happening around us?  ‘No increase in income tax, no cuts in social welfare payments’; no, and that’s all designed to keep people subdued.  It’s working, working beautifully, and even as these insidious cuts are introduced, affecting in the main only the weakest in our society, the majority still sit back and stay quiet.  What will it take for us to stand up to the massive injustice visited on us by the ECB?
BALLYHEA BONDHOLDER BAILOUT PROTEST – 18th march this Sunday, 10.30pm

Yours sincerely,
Diarmuid O'Flynn.