Troika told that bailout agreement is ‘immoral’

THE EU/IMF/ECB troika has been told that a revised “memorandum of understanding” is needed in the economic bailout to offer protection to the poor while attempting to achieve growth and financial stability.

At a meeting with the troika, Social Justice Ireland said the bailout agreement is dispossessing poor and vulnerable people while at the same time protecting many of those who, it said, “shared responsibility for Ireland’s current plight”.

As well as criticising the country’s own financial institutions, it also said the European Central Bank and European Commission played a role in the decisions that caused Ireland’s problems. Social Justice Ireland director Dr Séan Healy said the two institutions were refusing to accept responsibility.