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Financial Crisis

The consultation on the National Action Plan for Social Inclusion 2018 to 2021 has been released by the Department of Employment Affairs and Social Protection with a closing date of 16th March 2018.  This consultation is open to all, organisations and individuals, and while Social Justice Ireland encourages all to participate, we are concerned that the questions are framed in such a way as to allow Government to abdicate their responsibilities to the most vulnerable.

Successive Governments have continued to look to private entities to deliver public services.  This has given rise to a regulatory emphasis on safeguarding competition rather than protecting the consumer, leaving households dependent on essential services at the mercy of market forces.   The recommendations in a recent OECD report provide salutary advice.

In the most recent, and high-profile, mortgage sale, Permanent TSB this week announced its intention to sell 14,000 non-performing mortgage loans.  Some commentators have suggested that, instead of selling these loans, that individual borrowers be allowed to ‘make a deal’ with the lender to buy the loan at the intended sale price.  However, this solution is too simplistic. 

There has been a profound failure of policy across the EU since the 2008 crash, a failure that raises serious questions concerning the EU’s commitment to protecting its millions of powerless and vulnerable people, according to Social Justice Ireland’s latest research study on EU developments.

This article first appeared here on the Project Syndicate site.  It was written by Joseph E. Stiglitz, a Nobel laureate in economics.

What is needed is not structural reform within Greece and Spain so much as structural reform of the Eurozone and a fundamental rethinking of the policy frameworks that have resulted in the monetary union’s spectacularly bad performance. Failure to restructure Greece's debt would be a failure of democracy and morality.

The troika made a major mistake in deciding the terms of Ireland’s bailout programme when they failed to factor in its social impact according to Minister for Finance Michael Noonan.

Speaking at the IMF conference in Dublin Castle last Monday, he said the same mistake had also been made in other countries when they failed to consider the effects that austerity policies would have on people.

Thomas Fazi's presentation at the Social Policy Conference 2014 is available to view.  Click the 'read more' link below to watch a larger video or to download the full text of the presentation.

"Ireland and the crisis - a Narrative" - this Occasional Paper was originally published in April 2013 as chapter 2 in Social Justice Ireland’s Socio-Economic Review 2013 entitled ‘What would real recovery look like?'

Health spending in Europe in 2010 fell for the first time in decades. This is one of the many findings in the "Health at a Glance: Europe 2012", a new joint report by the OECD and the European Commission. From an annual average growth rate of 4.6% between 2000 and 2009, health spending per person fell to -0.6% in 2010. This is the first time that health spending has fallen in Europe since 1975. In Ireland, health spending fell 7.9% in 2010, compared with an average annual growth rate of 6.5% between 2000 and 2009.