NEWS that the IMF may take control of the Irish economy should send warning signals to everyone.
Not just because it is a sign of economic collapse, but because the IMF only goes in to a country when the country has something they want.
In our case, the fact that we have the largest untapped oil and gas reserves in Europe off our Atlantic coast makes us an ideal target. These resources make us potentially as wealthy as an Arabian Gulf oil emirate, yet in the current climate of despair we are likely to give away our resources in return for getting the funds to shore up our economy.
That is how the IMF works. One only has to look at how the resources of Nigeria or Indonesia were carved up by foreign companies under the auspices of IMF "repayments".
We are sitting on a pot of gold and instead of using it for ourselves we are going to be talked out of it by an organisation that has used the same tactics the world over.
I would recommend to everybody that they read (or watch on YouTube) 'Confessions of an Economic Hitman' by John Perkins, who used to work for the IMF.
His appearance on Icelandic TV was instrumental in the Icelanders rejecting the IMF and maintaining their sovereignty. Keeping the IMF out of this country is our biggest economic challenge. We cannot allow this punch-drunk, lame-duck Government to give away our future for political expediency -- as they surely will.
Robin WilsonDundalk, Co Louth
UNBELIEVABLY, the €6bn Budget saving is going to service our never-ending foreign debt. Is there an escape route to release us from the financial strait-jacket of the euro?
Borrow we must. But let it be from the IMF at the lower interest rates. We should leave the euro and reclaim our Irish currency -- which, of course, will be massively devalued -- increasing our exports and employment.
The re-alignment of the public service wage to the devalued punt will decrease future borrowing.
A radical solution to a radical situation but one that could give us back our independence and pride.
John-Patrick BellManorhamilton, CO Leitrim
Not just because it is a sign of economic collapse, but because the IMF only goes in to a country when the country has something they want.
In our case, the fact that we have the largest untapped oil and gas reserves in Europe off our Atlantic coast makes us an ideal target. These resources make us potentially as wealthy as an Arabian Gulf oil emirate, yet in the current climate of despair we are likely to give away our resources in return for getting the funds to shore up our economy.
That is how the IMF works. One only has to look at how the resources of Nigeria or Indonesia were carved up by foreign companies under the auspices of IMF "repayments".
We are sitting on a pot of gold and instead of using it for ourselves we are going to be talked out of it by an organisation that has used the same tactics the world over.
I would recommend to everybody that they read (or watch on YouTube) 'Confessions of an Economic Hitman' by John Perkins, who used to work for the IMF.
His appearance on Icelandic TV was instrumental in the Icelanders rejecting the IMF and maintaining their sovereignty. Keeping the IMF out of this country is our biggest economic challenge. We cannot allow this punch-drunk, lame-duck Government to give away our future for political expediency -- as they surely will.
Robin WilsonDundalk, Co Louth
UNBELIEVABLY, the €6bn Budget saving is going to service our never-ending foreign debt. Is there an escape route to release us from the financial strait-jacket of the euro?
Borrow we must. But let it be from the IMF at the lower interest rates. We should leave the euro and reclaim our Irish currency -- which, of course, will be massively devalued -- increasing our exports and employment.
The re-alignment of the public service wage to the devalued punt will decrease future borrowing.
A radical solution to a radical situation but one that could give us back our independence and pride.
John-Patrick BellManorhamilton, CO Leitrim
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