I get involved in many activities which I hope will create a better world. In one incarnation I worked for an NGO which specialised in advising community groups on how to get European and other funding. Success in our organisation was measured by how good you were at getting the money from Europe. “Best practice” was the favoured buzzword, meaning the template of how to shape the programmes so you’d secure the funding. Government ministers were heralded on their ability to get European money with the high point being the securing of IR£8bn of structural funds in the mid 90s. This coupled with securing FDI and the social partnership model were the waves on which Governments surfed to electoral and international success. Just before this time the IFSC got underway and that lightly regulated financial laudromat continued to do it’s thang.
I believe that this template of national ‘Best Practice’ morphed into a form of crony capitalism that created tax breaks and all kinds of deals for pals, allegedly agreed in the infamous Galway Tent which was a very salubrious marquee at a summer horse racing meeting.
Post Euro currency introduction, insiders got real rich on
ridiculously inflated site prices, developers followed suit on inflated
property prices, banksters got drunk on the huge bonuses they were
getting on the loans they were making, on the back of cheap credit, to
the developers and home buyers, not to mention the side gambling
thereon. The ordinary Joes and Janes thought they were rich because of
the local estate agent’s inflated valuation of their homes.
The bubble burst, the over exposed and unregulated banking industry got into trouble and got a govt guarantee, govt made a developer slush fund called NAMA, govt also made a bad bank, govt bailed out the banks, ratings agencies lowered the credit rating, in comes the Troika’ bailout’ gang who are in cahoots with protecting the banksters, nation looses it’s sovereignty and they screw the people with austerity. Govt left with big pensions. Bankster takeover was complete.
Sad to see the same template being rolled out in country after country . The latest is Slovenia, introduce Euro, cheap credit, property bubble, property bust, banks in trouble, bank bailout and creation of ‘Bad Bank’, rating agencies drop, sovereign ‘Bailout’, loss of sovereignty. Bankster take over complete. Mainly German and Italian banks exposed according to the articles below.
(The one eyed three legged news hound said it’s much the same M. O. that the smack dealers use).
slovenia economy fears
Slovenia troubles
Best Practice
Source
banzai7
The bubble burst, the over exposed and unregulated banking industry got into trouble and got a govt guarantee, govt made a developer slush fund called NAMA, govt also made a bad bank, govt bailed out the banks, ratings agencies lowered the credit rating, in comes the Troika’ bailout’ gang who are in cahoots with protecting the banksters, nation looses it’s sovereignty and they screw the people with austerity. Govt left with big pensions. Bankster takeover was complete.
Sad to see the same template being rolled out in country after country . The latest is Slovenia, introduce Euro, cheap credit, property bubble, property bust, banks in trouble, bank bailout and creation of ‘Bad Bank’, rating agencies drop, sovereign ‘Bailout’, loss of sovereignty. Bankster take over complete. Mainly German and Italian banks exposed according to the articles below.
(The one eyed three legged news hound said it’s much the same M. O. that the smack dealers use).
slovenia economy fears
Slovenia troubles
Best Practice
Source
banzai7
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