The consensus figure for the cost of the Irish bank crisis is

around €57 billion (€40 billion in direct losses plus €17 billion

from the National Reserve Fund which we will never see

again). The EU puts it down to around €38 billion

‘The failure of policy makers to impose losses on some bank

creditors at the height of Ireland’s financial crisis was a

mistake’

IMF January 2015

This debt has been locked into storage for 40 years, the last €5

billion of which is due repayment in

……..2053

Ireland has the second highest level of

underemployed workers in the EU15

Proportion of underemployed workers has risen

from 0.4% in 2008 to more than 7%.

Dole payment cut for under-26s

One parent family payment cut - 98% of recipients

are women

The average monthly rental rate in Dublin is

€1,210

….while the average wage for a retail worker is

€2,250

This is 53% of income

130,000 households are on the social housing

waiting list

Less than 8,500 houses built in Ireland last year

“Economics

are the

method; the

object is to

change the

heart and

soul”

“Caring for these children is highly profitable…

…with each child worth at least £2,500 and up to

£5,500 a week for the multiply disabled, abused and

damaged.”

“The naughtier children pay more…”

“The best small country in which to do business”

Ownership and control of oil or gas is transferred in full to the company

No royalties are paid to the State

The company can choose to export the oil or gas

They do not have to land the resources in Ireland or use Irish services or personnel

If the companies decide to sell in Ireland, the full current international price will be recovered from the consumer

The only guaranteed benefit to Ireland is a 25% corporation tax on the profits declared.

Before declaring profits, the company can write off 100% of costs against this tax, including the cost of previous, unsuccessful wells drilled anywhere in Irish waters

…….and costs incurred in other countries.

“The current fiscal system yields among the lowest government takes in the world”(Indecon, 2007, p.15).

Estimated government share from the sale of Corrib gas:

7%

The ESB provided safe and secure electricity generation and a supply to every corner and parish in the Republic.

One newspaper described it as “the first fruits of bolshevism in this country.”

Bord Soláthair an Leictreachais

Electricity prices were the lowest in the 15 member-states of the European Union

Deregulation leads to creation of a market and the opening up to competition

The ESB’s prices were set at 14% higher to encourage competition, it lost 800,000 customers in 18 months and now supplies only 40% of the nations electricity.

Electricity prices, the lowest in the EU-15 in 2002, were the highest in the expanded EU-25 by 2009.

the Commission believes that the privatisation of public utilities, including water supply firms, can deliver benefits to the society when carefully made.

EU Commission 15th May 2012

In 1982, Forbes 400 list of richest

Americans required personal

wealth of $91million & included 13

billionaires.

By 1998, $500 million was

required and the list included 189

billionaires.

The Walton family (Wal-Mart) rank

numbers 4 through 7 on this year’s

Forbes 400 list, with a combined

worth is $89.9 billion.

It would take someone making

$20,000 a year…

a million years to net the amount of

money one Walton sibling is worth.

80 richest people on the planet as wealthy as the

poorest 3.6 billion

UNDP stated an annual 4 percent tax on the world's

richest would provide adequate food, safe water,

basic education and health care for all developing

nations.

The top 1% in Ireland own approximately €130.2

billion

Irish concentration of wealth is now the highest in

the EU.

The top 10% in Ireland owns almost 60% of the

wealth

The bottom 50% owns less than 5% of the

wealth

The bottom 20% owns just 0.2%!

Pascal Kerneis - European Services Forum, a lobby

group for global corporations such as Deutsche

Bank, IBM and Vodafone.

“industry will oppose any deal in which investment

protection is traded off against public policy

objectives, including human and labour rights”

TTIP specifically promotes access to “public

monopolies” to “promote competition in the interests

of the consumer”

ISDS makes re-nationalisation almost impossible

15 November 2012 Ryerson University, Toronto