John Gormley says scale of Ireland's deficit is fault of previous administrations

loner

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€0 has been borrowed to fund our banking crisis.

All of the cash that has gone to the banks to date has come from the NPRF.

The money that is going to Anglo exists in the form of promissory notes, none of which have been called yet.

Over the next 10 years, €2-3bn per annum will be borrowed per annum to fund the recap of Anglo and INBS, but as of today, the €20bn deficit that exists arises out of the gap between public spending and tax receipts.
So we really got nothin to worry about. What problem--no problem --think we heard that before.
 


soubresauts

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So the 2007 General Election is just a figment of our imagination?
Try and stick to the observation made and give over with trolling 101.
The GP knew full well what it got into bed with.
Yes indeed. Just a few months before the general election Gormley was saying (the infamous Planet Bertie speech):
On Planet Bertie there's a strange cult called Fianna Fáil, a type of religion without vision or values... let there be no doubt, we want Fianna Fáil and the PDs out of Government.
I recall that Gormley scraped into the Dáil by a tiny margin. And that all sorts of well-intentioned people, believing Gormley to be sincere, bent over backwards to help him get those precious votes.

I also note that Gormley has had more than three years to do something about all those promises he made to his helpers (and the Irish people), and has, on nearly every count, failed to lift a finger. Clearly, he doesn't give a flying fig.

Ah sure, he's playing senior hurling now. And that's all that matters.
 

Baron von Biffo

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John Gormley sent a letter to all Green Party members yesterday which included the following quote:

"The last week has been a particularly difficult one. The final figures for Anglo Irish Bank are simply horrendous. What is even worse – though it has received less attention – is the scale of our deficit. This problem is due to serious errors by previous administrations in managing our economy leading to an unsustainable tax structure and boom. We, the Green Party, are now in the unenviable position of having to help correct this."

Surely the scale of the deficit is directly related to the measures taken since Autumn 2008, for which John and his GP colleagues bear significant responsibility?
He's trying to soften up the remaining Glasraí for budget attacks on the poor and the sick.
 

hammer

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Did he need to be awoken from his bed to come up with this classic.

He voted for the blanket guarantee :)

A slight error in my opinion.
 

Baron von Biffo

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First the slimey Greens told us they would not go into government with fianna fail. Filthy liars.

Right away, Gormley colluded in the destruction of Tara. Filthy liars.
They are utterly incompetent, they abandoned all Green policies to gain office, their only achievement in government has been to hoover up sinecures for their failures and rejects. But, in the interests of accuracy, they didn't say they would not go into government with FF.
 

civilservant

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So we really got nothin to worry about. What problem--no problem --think we heard that before.
And I wonder how the hole in the National Pension Reserve Fund will be plugged? It's a bit like borrowing from one credit card to repay borrowings on another ! Sooner or later it catches up with you.
 

paulp

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No, while I have little time for the "intelligence" of the vegetables I think his comment is correct. However broadstroking the responsibility using words like "administrations" allows him to conveniently hide the FACT that he is now complicit with that previous "administration" in continuing to mess up the future. If he really bought into this belief he would not have gone within a sh1tty stick's length of Brian Cowen.
2008 budget - passed on December 05, 2007, was the Greens first budget in power and was supported by the Greens.

This budget proposed to increase current expenditure by almost 2 billion.

If the Greens had asked for spending to be reigned in and a more prudent approach taken in this budget, then his claim that the deficit is a consequence of previous adminstrations would hold more water.

The fact is, in power, he and the Greens kept blowing up the bubble.
 

consultant

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They are utterly incompetent, they abandoned all Green policies to gain office, their only achievement in government has been to hoover up sinecures for their failures and rejects. But, in the interests of accuracy, they didn't say they would not go into government with FF.
But, as already pointed out, gormless DID say:

... let there be no doubt, we want Fianna Fáil and the PDs out of Government.

Now, going into government with these incompetents (Harney is still there) is a very strange way of getting them out, don't you think?

Or was gormless REALLY saying we want FF and the PDs out of Government AFTER we have had our chance to further rape the electorate and plunder what is left of the gravy-train?

Maybe that's it.
 

the_rebubblican

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Poor John has learned the hard way that when you associate yourself with such cancerous hypocrisy it inevitably affects you. They should have listed to Roger Garland who warned of the FF Green deal, "When you sup with the devil be sure t have a long spoon."
 

OceanFrog

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The original "Planet Bertie" speech ... Gormley in Feb 2007 ...

"We want change. Michael McDowell wants things to stay the same. The man who said 'no thanks' to one party government has now become its mainstay. As you know, Michael's popularity is soaring with Fianna Fáil voters. It doesn't matter what Bertie says or does, Michael will stick with him. The PD enforcer has become the Tammy Wynette of Irish politics, standing desperately by his man Bertie. Michael has gone native ... more Fianna Fáil than the Fianna Fáilers themselves ... The gombeenism has to end, my friends. This is it".



But that was 2007. Its now 2010 and time for a Revised "Planet Bertie" speech ... when you substitute "Gormley" for "Michael", and "Cowen" for "Bertie".

"We want change. Gormley wants things to stay the same. The man who said 'no thanks' to one party government has now become its mainstay. As you know, Gormley's popularity is soaring with Fianna Fáil voters. It doesn't matter what Cowen says or does, Gormley will stick with him. The Green Party enforcer has become the Tammy Wynette of Irish politics, standing desperately by his man Cowen. Gormley has gone native ... more Fianna Fáil than the Fianna Fáilers themselves ... The gombeenism has to end, my friends. This is it."

So readers of P.ie, which speech is better?
 

goosebump

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The amount of money borrowed and spent by the Exchequer is a matter of public record, published on the DOF/NTMA websites.

Instead of referring to random blog posts from 'commentators' why don't you do off to the DOF website and find a link to a report which shows an actual disbursement from the Exchequer to the Banks?

Our budget deficit this year will be approx. €30bn, made up of a general deficit of €20bn about about €10bn in respect of calls on prommisory notes to the banks, which arise between now and the end of the year.

That €10bn is a one time peak that reflects the maturity of a large portion of Anglo Senior Debt this year. In years to follow, that amount wil be closer to €2bn, as the State builds up a fund to deal with the next chunk of Anglo Senior Debt that matures in a few years time.

As of today, our budget deficit stands at approx. €20bn, all of which concerns the gap between current spending and tax receipts.

As the posters have pointed out, Gormley and the Greens must take responsibility for the portion of this that arises from 2007 and 2008, which is minimal, and which should be offset by the various revenue raising measures, such as the carbon tax, they have introduced in 2009.

No reposibility arises for them in respect of the vast bulk of the €20bn deficit that otherwise exists.

They must also take responsibility for the the portion of the deficit that will arise *in future* in respect of the banks.

However, there are no proposals in relation to recapitalisation that give rise to savings of anything more than €6bn (35% of the €16.5bn due to Senior Debt holders) and even that saving is highly unlikely given the legal position of the Senior Debt holders.

While it is convenient to blame every single ill on society on the bank rescue plan, the cold hard facts indicate that our deficit, and the cuts and tax rises it will give rise to, arise almost exclusively from Government policy between 2002-2007, in which public spending increases and tax cuts were made on the basis of unsustainable revenues arising from the property market.
 
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Baron von Biffo

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But, as already pointed out, gormless DID say:

... let there be no doubt, we want Fianna Fáil and the PDs out of Government.

Now, going into government with these incompetents (Harney is still there) is a very strange way of getting them out, don't you think?

Or was gormless REALLY saying we want FF and the PDs out of Government AFTER we have had our chance to further rape the electorate and plunder what is left of the gravy-train?

Maybe that's it.
There's a big difference between "We want" and "We will not" One is an aspiration and the other a declaration.

Whatever else they can be accused of, and it's a lot, the Greens did not lie about putting FF in government.
 

paulp

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As the posters have pointed out, Gormley and the Greens must take responsibility for the portion of this that arises from 2007 and 2008, which is minimal, and which should be offset by the various revenue raising measures, such as the carbon tax, they have introduced in 2009.
.

you're letting them off the hook too easily.
Not to deflect from the FF/PD damage done in 2002-2007, but greens support of 2008 budget does indicate that they were happy for the party to continue and that if they had been in coalition with FF from 2002-2007, there would have been no difference in regards to where we are today.

The had one brief shot to wipe their hands of their predecessors, and that was budget 2008. They didn't take it.
 

paulp

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There's a big difference between "We want" and "We will not" On is an aspiration and the other a declaration.

Whatever else they can be accused of, and it's a lot, the Greens did not lie about putting FF in government.
Sargent 'I will not lead the Greens into government with FF'

He then leads them into government with FF and resigns after.
 

He3

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'Unenviable position'?

'The worst day in government is better than the best day in opposition' - M Harney to J Gormley, 2007.

Discuss.
 


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