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ICTU to hold bank debt protests on 9 February

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ICTU to hold bank debt protests on 9 February

ICTU to hold bank debt protests on 9 February

ICTU general secretary David Begg

The Irish Congress of Trade Unions is holding demonstrations in six locations around Ireland on 9 February in protest at the country’s €64bn bank debt burden.

General Secretary David Begg said the bank debt threatened the well-being of future generations.

“This country faces the most dire consequences unless this burden is lifted and future generations will pay a heavy price unless a significant deal is done at European level.

“It is extraordinary to think that a country with a workforce of 1.8 million has been saddled with a debt of €64bn and that Ireland has the highest bailout bill in the Eurozone, larger even than Germany [€41bn for Ireland, €40bn for Germany].

“It is even more extraordinary to think that every person in Ireland has already been hit for €9,000 to pay for the incompetence of senior management in the broken banks, while the average cost across the EU is a mere €192 per head. We have paid almost 50 times what everyone else has paid!

“These figures show both the extraordinary unfairness of what has happened and how utterly unsustainable this bank debt burden is,” Mr Begg said.

The 9 February demonstrations will take place in Dublin, Cork, Galway, Limerick, Waterford and Sligo with the theme ‘Lift the Burden: Jobs Not Debt’.

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