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Policy issues concerning Banking Crisis

Dr Brigitte Unger director of the WSI (Economic and Social Institute) presented a paper at Social Justice Ireland’s Social Policy Conference 2013 entitled ‘Towards a Social Europe’.  It addresses the threats to social policies after the financial crisis, models for a Social Europe and specific suggestions for creating a Social Europe.

Deal on Anglo/IBRC compounds the injustice of the original deal and copper-fastens it for generations to come.

Social Justice Ireland welcomes the Euro Area Summit (June 28-29, 2012) conclusion that "it is imperative to break the vicious circle between banks and sovereigns". This is a development we have advocated for almost four years. However, the specifics of how this is to be done and what its impact will be on Ireland's budgetary situation are not clear. 

According to Professor Karl Whelan (University College Dublin) much of IBRC’s (formerly Anglo Irish Bank) debt was incurred by the Irish state so that unsecured and unguaranteed senior bondholders in the notorious Anglo Irish Bank and Irish Nationwide Building Society would be paid back.

According to Professor Karl Whelan (University College Dublin) much of IBRC’s (formerly Anglo Irish Bank) debt was incurred by the Irish state so that unsecured and unguaranteed senior bondholders in the notorious Anglo Irish Bank and Irish Nationwide Building Society would be paid back.

The European banking Federation has published facts and figures on Europe's banks which can be downloaded below.

This article was written by Professor Karl Whelan of UCD and published in Business and Finance November 2011. 

Debates about burning bondholders who have already been repaid misses the point. It is all about promissory notes, writes Karl Whelan.

Governments must break the link between states and their banks according to Ajai Chopra, Deputy Director, European Department, International Monetary Fund, and leader of the 'troika' currently overseeing Ireland's Bailout Agreement with the IMF, the European Central Bank and the European Commission.  In a remarkable presentation at the Dublin Economic Workshop in Kenmare on October 15, 2011, he outlined a position that is remarkably similar to that  proposed and advocated by

Ireland is heading for bankruptcy, which would be catastrophic for Ireland according to Morgan Kelly in his op-ed article in the Irish Times on May 7, 2011.

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