Putting on the green jersey

» BY MARY LOU McDONALD

YOU HEAR some hair-raising stuff in the Dáil at times but even by Dáil standards Enda Kenny’s defence of bondholders and bankers left me speechless. We will not have the word “defaulter” written across our brows, said An Taoiseach, full of pomp and faux patriotism. “We pay our way,” he declared.

This was his rationale and defence for paying over €1.25billion to unsecured Anglo bondholders. It’s the reason why a further €3billion will be handed over to that same toxic bank at the end of March — a payment that will be repeated every year for the next decade. The cost to the taxpayer is an eye-watering €30billion . . . and that’s before you count the interest repayments.

The billions in cutbacks and charges inflicted on citizens are a direct consequence of these Government decisions. It is the reason why teachers will be lost from disadvantaged and rural schools, half a million hours stripped from the home-help service, and charges levied on people’s homes and septic tanks.

The cutbacks (or ‘austerity’ to use the clinical term) are keeping the domestic economy on the floor, hundreds of thousands on the dole and the emigrant trail taken by thousand s each year.

Those who wondered how any sane, self-respecting government could rationalise these choices as ‘paying our way’ got their answer at the World Economic Forum in Davos. The Taoiseach told an international and influential audience that the cause of our crisis is that the people went “mad” borrowing to fuel greedy lifestyles.

So there you have it. Straight from the horse’s mouth. The cutbacks are our collective punishment, Fine Gael and Labour Party style.

The bankers, bondholders and their cheerleaders in the EU are to be reimbursed in full. After all, how were they to know that we would go on a borrowing binge?

The Taoiseach on behalf of the Government has made it clear that he will not argue the case for a writedown of this state’s crippling debt. He has made it clear that the cutbacks will continue. He is intent on signing an EU agreement that will write austerity rules into law.

At Davos he revealed why he has made those choices. We are to pay our dues to those who sank the ship of state. We are to take the blame and the pain for the greed of others.

I wonder if this is what his sidekick Eamon Gilmore meant when he told us all to ‘put on the green jersey’.

Was Enda wearing his at Davos?