Economy

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Corrib pipeline - resistance wipes out Shell's profits but Fine Gael are clueless

It has been revealed that the decade long resistance of the people of Erris to Shell's experimental gas pipeline has now wiped out Shell's projected profits from the project. Brian O’Cathain, the Managing Director of Enterprise Energy Ireland let the cat out of the bag at a debate at the IFI on the 4th December. Instead of the 650 million dollars the project was intended to cost, Shell & partners have now spent over 3 billion dollars.

 

Snow way to run an economy

Surprise! Austerity is kicking in and, as predicted, the economy is continuing its downward trend. If anything, the speed is increasing with growth in 2010 falling from 1.2% in the second quarter, to 0.8% in the third quarter until, finally, negative 0.5% in the last quarter. Rest assured, though, there is a culprit at hand to explain the last set-back. To paraphrase Michael Jackson:

A radical analysis of the ECB / IMF four year plan for Ireland and call to action

November 24th the Irish government announced the details of the four year plan required as part of the ECB / IMF ‘bailout’ of the banks. There will be five billion worth of new taxes and 10 billion worth of cuts under this so called ‘National Recovery’ which in reality will take 10% out of GDP. As we show below almost all these costs are being dumped on workers, particularly low paid workers, the very sector that gained little or nothing during the boom years. the richest 1% are left with most of their legal tax dodges in particular the ability to avoid paying tax at all if they spend 6 months on holidays out of the country. [In Italian]

IMF arrival in Ireland does not transform yesterday's enemies into today's friends

Even the Irish Times has now editorialized against the IMF intervention but like most of the emerging mainstream concerns the Times is not concerned about the cuts in jobs, wages and welfare that the IMF will be used to impose. No their concern is for the loss of 'sovereignty' as IMF intervention results in a rise in populist cross class nationalism, a tide which ironically the ruling party, which is bringing in the IMF to make the cuts it would like to, will be best placed to ride.

Mutualism: Fake and Real

A vision of a co-operative commonwealth has always been at the heart of socialism. The earliest socialists suggested co-operative villages, workplaces and consumer societies. This was echoed by libertarian socialists.

Who is afraid of the IMF - their opportunity and ours

It's now official, the Irish state is in talks with the EU and the IMF about a so called 'rescue plan' to bail out the Irish capitalist class from the disaster created by the international crash of the capitalist economic system. A crisis that was magnified in Ireland by the corruption of local crony capitalism on the one hand and the dependency of the economy on 'globalization' on the other. Trapped between such a cast of crooks and idiots it is perhaps not surprising that many in Ireland hope things will be improved when the running of our lives will be handed over to those who many hope might have a clue. [Italian] [Greek] [Spanish] [Dutch] [Catalan]

Report on student demonstration against police brutality

Dublin students march against police brutalityWSM reporters took part in the student march against Garda Brutality in Dublin called by Free Educations for Everyone and the Students in Solidarity networks. Over 600 people took part in the demonstration which marched from the Wolfe Tone statue to Pearse street police station.

Halloween protest tour on multi-millionare's Shewsbury road

1% Network Halloween protest Shewsbury roadSaturday 30th October saw the WSM take part in the latest 1% Network event, an after dark Halloween Treasure Hunt around Dublin's exclusive Shewsbury and Ailesbury roads taking in the mansions of multi millionare bankers, developers and financers as well as the HQ of Allied Irish Bank and the 32 million in tax avoidance of the luxury Four Seasons hotel. The tour was led off by a vampire capitalist accompanied by a contingent of Zombie bankers and developers and ghost estates with the vampire showing how much wealth was present at each stop and explaining the contacts between the 1%, the media and the government that enabled them to make hundreds of millions during the tiger.  The tour was accompanied by uniformed Gardai and a car of special branch political police.  The 1% network is a coalition of socialist groups including the WSM, eirigi, ISN and Semora Spraoi formed to highlight the fact that the richest 1% own 34% of the wealth.

Revealed - more cuts to pay for bank bailout planned

Within hours of announcing that the real cost of the Anglo bailout was going to be 30 billion plus rather than the 1.5 billion first estimated the government was revealing its plan for further cuts in our pay welfare, and public services to pay for this. The bank bailouts, not totalling 45 billion, will push the budget deficit to 32% of GDP, the government has the intention of continuing to attack the living standards of workers in Ireland until this is reduced to the 3% required by the EU.

Clinton tells rich they are the problem at 2500 a head event in Dublin

Bill Clinton30 September in Dublin former US president Bill Clinton told an invited gathering of 575 of the richest 1% of Ireland's population that they were the greatest problem facing the world. They paid over 2500 a head to hear this as they chomped down on "Atlantic salmon, Connemara lamb and lemon posset, washed down with Chablis Domaine de la Mandeliere 2007 and Chateau Les Roches Gaby 2001."

  


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