Of course, there is still that matter of the 7billion we gave to AIB and BoI, and for WHAT? For them to sit on it and continue to starve SMEs of liquidity, of wages, of credit for the raw materials they need to keep people in jobs?
It’s not working, this way.
We must convince government to take back that 7billion; issue government cheques to companies and homeowners who are defaulting, let THEM repay these cheques to the banks to pay-off their debts and they save their businesses and its jobs; the homeowners save their homes. No-one goes on the dole and people will feel safe at home. Stimulous will help consumer confidence again and spending will start, with concomitant VAT/excise duty returns, while keeping retail/service jobs.
Why not do this?
The recapitalisation is not working as it is.
Could this be ANY worse? No.
It COULD be a hell of alot better.
“Cut, tax, levy” is a FAILED policy – we need something different.