'Ballyhea Says Know' to mark 10 year anniversary of bank guarantee with march

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.

A previous 'Ballyhea Says No' march

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.

“Since March 6 2011, the Ballyhea Says No campaign (now Ballyhea Says Know) has protested this injustice. On Sunday September 30th, exactly 10 years on from that disastrous Guarantee, they march again in Ballyhea 10.30am. From the first time they made contact with me, several years ago now, I have supported them. I ask you to do so now. Know what's happening.”

- Digital Desk

More on this topic

Banking bailout: A very costly bailout results in a decade of ramifications

Banking bailout 10 years on: The crash that killed the Celtic Tiger

John McGuinness: The banking system is rotten and can only get worse — we need change

Consumers hit if banks forced to repay tax, report warns

More in this Section

Health committee chief to back no confidence vote in Simon Harris

McDonald calls for ‘compassionate’ approach to the past

Robinson says sustainable goals should be part of education curriculum

Minister sings verse from musical film Bedknobs And Broomsticks to sum up Stormont talks


Want to have a whale of a time? IWDG bringing Iceland expedition stories to libraries

Mature students should start on grant applications

Rosamund Pike’s battle to portray war reporter Marie Colvin

Other side of Gaza: Irish film-makers highlight ordinary lives in the besieged territory

More From The Irish Examiner