Exactly 10 years on from the bank guarantee a group of campaigners will march in the Cork village of Ballyhea this Sunday to raise awareness of what they describe as the continuing injustice resulting from the 2008 crash.
Made up of local residents, the “Ballyhea Says No” campaign was set up in 2011 but revealed how they have recently changed its name to “Ballyhea Says Know” to remind people about the ongoing burning of billions.
Since 2011, the group has undertaken a number of actions to progress the case for debt renegotiation for Ireland and have met with the European Central Bank, the European Commission and the Irish Central Bank.
Earlier this year they gave an hour long presentation to the Oireachtas Finance Committee and received commitments for an all—party committee to challenge the ECB. The campaign was back-boned by a weekly march up and down the village of Ballyhea.
According to organisers a number of politicians and public figures have been invited to the village of Ballyhea to join campaigners this Sunday at 10.30am and at least one presidential candidate expected to appear.
On September 30th 2008 the Irish government underwrote the entire Irish banking system with what's become known as the bank guarantee.
Ballyhea Says Know campaign organiser and Ballyhea resident Diarmuid O’Flynn says “it was a catastrophic decision".
He went on: "Most catastrophic of all was the subsequent enforced bailout of Anglo Irish Bank, which on its own cost us €35billion - more than half the entire bailout cost.”
Ballyhea Says Know campaigner Fiona Fitzpatrick went on: “Despite the common impression to the contrary, we are still today paying that cost, €10.5billion destroyed by our Central Bank in the last three years, €4billion last year alone - the Promissory Notes legacy.”
MEP for Midlands Northwest Luke Ming Flanagan MEP added his support to the march.
- Digital Desk