IMF takeover - the Constitutional position

Franzoni

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Mar 3, 2010
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Not true. If the state was unable to borrow, without ECB and IMF aid the entire public sector and all recipients of social welfare would suffer the worst because there would be no money to pay their salaries or payments.

Yes the PS and social welfare recipients would suffer in the event of ECB and IMF aid, but so would everyone else (eg, taxes would rocket, spending would be slashed). But if ECB and IMF aid is needed, it is because without it the PS and social welfare recipients would find the state couldn't pay them anything. It could come down to someone in the PS, for example, having to face a massive cut in salary with the ECB and IMF, or facing no salary without them.

Turning to the ECB and IMF would very much be the last resort, and only when not resorting to their aid would be very much worse.
the cops and the army would be boxed off otherwise as our american cousins say tommy...."you ass is grass"..and all the rest of the political class...we would see a backlash of politicial violence not seen since the 1920's.....
 


The Field Marshal

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Aug 27, 2009
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Quite simply the enormous strain on the government coffers can only be alleviated properly by cuts in the govts wages and pensions bill.

The PS people who currently benefit hugely from this largesse are the richest cadre in Irish society and can well afford to take further cuts.

The Croke Park agreement must be either scrapped or renegotiated.
 

myksav

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May 13, 2008
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Once again we are hearing dire warnings that the International Monetary Fund will take over the running of our economy if the government doesn't institute even more vicious austerity measures than already in place.

Dr. Death himself, Colm McCarthy, is quoted in today's Sunday Independent as saying that the IMF will be running the country by February if the government doesn't get its house in order, i.e. screw the people even more.

McCarthy warning: IMF is at our door - National News, Frontpage - Independent.ie

Leaving aside the financial implications for a while I wish to raise the Constitutional positon if a foreign based elite is to take power in some form over the Republic of Ireland.

This country is governed by a Constitution which clearly states:



So, would an IMF takeover be a flagrant breach of our Constitution, indeed would it amount to a coup d'etat? In my view it would.

No doubt we will be told that the IMF wouldn't be taking over directly, that it would merely dictate the terms to an Irish Finance Minister (which is already happening from the EU). However it would still amount to a usurpation of power.
No. The IMF have to be invited into a country by its government and comes in as basically a financial director/controller.
 

an innocent abroad

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Apr 15, 2010
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since when has our tax system ever been used for "The common good"? history shows clearly that it has been used to benefit the cabal of F.F and their galway tent brigade. It was even used to change the tax liablities of an individual and backdated to fit his tax liabilities re his art collection.
 

atlantic

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Jan 25, 2008
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AS PJ Rourke says "Giving money and power to government is like giving whiskey and car keys to teenage boys" and boy that's what we have got and will still have when allis said and done.
since when has our tax system ever been used for "The common good"? history shows clearly that it has been used to benefit the cabal of F.F and their galway tent brigade. It was even used to change the tax liablities of an individual and backdated to fit his tax liabilities re his art collection.
 


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