PIC: Galloway Sworn In

PIC: Galloway Sworn In

He’s back…
UPDATE:

@ChrisBryantMP

Interesting, George Galloway chose to affirm

rather than swear his oath as newly elected MP.— 

Chris Bryant (@ChrisBryantMP) April 16, 2012

16 Apr 12

Lots of religions say you should never swear…

Warsi Sinks at Titanic Event 

Party Chairman Booed by Tory Councillors and Membersrs

WATCH: Ken’s Tax Downfall

As Parliament returns after an extended Easter break, here’s a handy catch up guide to what you have missed in the race to become Mayor of London…

Rich & Mark’s Monday Morning View

SUNDAY, APRIL 15, 2012

Irish Taxpayer Sacrificed to Prop Up Eurozone Banks
German ECB Board Member Speaks Truth
ECB Press Office Erases Remarks from Transcript

On Thursday Dublin hosted a speech by Jörg Asmussen, a member of the Executive Board of the ECB, which in monetary and fiscal terms is now effectively the ruling neo-colonial power in Ireland, with German financial ‘advisers’ having been present in the Irish treasury for four years. Herr Asmussen was until January the advisers’ boss as State Secretary at the German Finance Ministry, responsible for Fiscal and Macroeconomic Affairs, Financial Markets and European Policy.When he speaks the Irish political and financial elite listen.
What they heard him tell them in a speech to the IIEA think-tank was a technocratic “steady as she goes”. Praising first the painful in the short-term reductions in state spending (10% cut in 2011) and the consequent expansionary fiscal contraction which has seen economic growth return and the trade deficit closed. Asmussen then spent a lot of time justifying why Irish taxpayers will have to bailout Anglo-Irish Bank bondholders for decades. The need for that long-term pain is not credible. 
Guido has long argued that the bailout of Anglo-Irish Bank was done to protect the investments of German banks (see Is the ECB Forcing Ireland to Protect German Investments? October 2010, Feck Off Euro-Socialists November 2010).
In a crucial section of his speech (audio at 27 mins 30 secs) Herr Asmussen says:

“The decisions concerning the repayment of bondholders in the former Anglo Irish Bank have been a source of controversy, decisions taken by the Irish authorities such as these are not lightly taken and the consequences of subsequent actions are weighted carefully, it is true that the ECB viewed it as the least damaging cost to fully honour the outstanding senior debt of Anglo however unpopular that may now seem, the assessment was made at a time of extraordinary stress in financial markets and great uncertainty, and protecting the hard won gains and credibility from the early successes in 2011 was also a key consideration and the main reasoning was to ensure that no negative spillover effects would be created to other Irish banks or to banks in other European Countries.”

Note that last line emphasised in bold. In October 2010, days after the then Irish finance minister refused in parliament to name Anglo-Irish bondholders, Guido revealed the bondholders list in a story that wasfollowed up worldwide. German institutions figured prominently.
It is, as Herr Asmussen says, a matter of great controversy in Ireland that future generations of taxpayers have been sacrificed on the altar of the Euro to protect German banks. Could that be why the official transcript of the speech erases his candid admission?

“… Protecting the hard-won gains and credibility from the early successes in 2011 was also a key consideration, to ensure no negative effects spilled-over to other Irish banks.”

The shameful truth is that Irish politicians of all parties have gone along with the Bundesbank / ECB’s efforts to prop up their banks and the Euro project at the expense of their own people’s interests. Another small nation on Europe’s periphery – Iceland – let its banks default and has undergone an awesome recovery. Ireland got it from the horse’s mouth on Thursday, the ongoing bailout pain is for the greater good of other banks in Europe.
Hat-tip:  SpreadBetting.com via Declan Ganley

SATURDAY, APRIL 14, 2012

Who You Calling Swivel-Eyed?

Letter Reporting Ken’s Secret Child Payments | Priti Patel
A Mayor for Muslims or the Rich? | Speccie
Elitism and Privilege Are Not the Same | Rod Liddle
HMRC Nonsense | Forbes
Boris 53 : Ken 47 | Standard
Blogger Faces Jail For Calling Councillor a C**t | Mail
Guido’s Column | Daily Star Sunday
Loony Left Weekly Round Up | Dane Valejo
Ken Gets a Granny to Lie for Him | CyberBoris
The City Rejects Ken | CityAM
Inequality at the Equality Commission | Sun
Mehdi Hasan: a Beacon for Islam | Rod Liddle
Tax & Benefits Transparency | Douglas Carswell
Should Boris Have Banned “Ex-Gay” Bus Adverts? | ConservativeHome

Previously Seen