Group calls on Europe to cancel Irish debt

The Ballyhea group brought their battle to have Ireland’s massive debt cancelled to the European Parliament and today makes their case to the president of the member states’ Council.

They presented a four page document to the Parliament’s petitions committee setting out the case under the EU Treaties for Irish citizens to be compensated for the damage caused by the euro through a debt write-off and a levy on the finance industry.

Diarmuid O’Flynn of “Ballyhea Says No”, said the euro was launched as an incomplete currency despite experts warning at the time of its launch that it would create chaos throughout Europe.

This had now happened and the bill was foisted on ordinary taxpayers, he said.

In Ireland’s case the country got a bail-out with the taxpayers expected to foot the total bill for the bad investment of bankers and investors and the country had not asked for or received any debt write-off.

“The troika will leave Ireland later this year with a smile on their faces as they will have got exactly what they wanted — the banks in France and Germany and other countries getting Irish money to pay for their failed investments as every Irish person is forced to put the equivalent of €15,000 each into the banking sector.

“This is unprecedented but nobody knows about it because we are little Ireland. We have got debt piled on debt and we are becoming debt slaves to Europe and will continue to be over the next 40 years as the money will be repaid with interest — including the promissory note money that will be simply destroyed once repaid,” he said.

The action of the EU contravenes several articles of the EU Treaty on the detrimental effect on human dignity, well being, sustainable development, consultation and article 41.3 of the European Charter stating that “every person has the right to have the union make good any damage caused by its institutions or by its servants in the performance of their duties”.

“The real issue is we are operating a currency that was not and is still not fit for purpose,” independent MEP Marion Harkin told a press conference after the Ballyhea group handed in their petition.

MEP Paul Murphy said the Ballyhea group had become a symbol of the struggle that was needed in and outside Ireland against the imposition of bailouts on ordinary people.

Sports journalist with the Irish Examiner, Mr O’Flynn said they were “peeling the onion” of EU power and gradually meeting and making Ireland’s case to all those necessary to convince.

They met the ECB in Frankfurt; the governor of the Irish Central Bank, Patrick Honohan; the chair of the Parliament’s economics committee, Sharon Bowles; European Commission troika member Istvan Székely; and were now bringing their case to the elected members of the parliament, and to Herman Van Rompuy, the president of the council.

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