Debt Justice !

http://www.guardian.co.uk/business/2012/jan/18/anglo-irsh-bank-debt-halt-payouts-campaign

Anti-debt campaigners gathered in Dublin on Wednesday to call on the Irish government to suspend repayments on the bonds of bailed-out lender Anglo Irish Bank.

A coalition of trade unionists, faith groups and international debt relief campaigners, called Debt Justice Action, is highlighting the social costs of keeping up repayments on the bonds of Ireland's bailed-out banking sector.

Andy Storey of University College Dublin said the €3.1bn (£2.6bn) the Irish government is due to pay out on an Anglo bond at the end of March could fund the country's entire primary school system for a year.

He said most private bondholders in the bank have now been paid off, so the government is now repaying public-sector creditors, including the European Central Bank, which part-funded the Irish bailout. In total, the rescue of Anglo will have cost €47bn by 2031, the equivalent of 30% of Ireland's current GDP.

Enda Kelly's government has been keen to distance itself from crisis-hit Greece, but with the Irish economy contracting, public scepticism about the Brussels-backed austerity programme is growing.

Jimmy Kelly, regional secretary of the Unite trade union, said: "[Suspending repayments] would draw a line in the sand against reckless lending practices, save billions of euros belonging to people in Ireland, and have no negative repercussions for ordinary people in Ireland or elsewhere. Our demand is feasible and winnable."

.......... AND the money quote below ! Shout that fro the roof tops ! What a joyous noise to be heard ! 

"A solution must be based on cancellation of illegitimate debts that ensure lenders are held accountable for their mistakes, rather than sacrificing people's rights [because of] fear of financial markets."