50 000 Irish take to streets

2010-11-27 22:25

Dublin - About 50 000 Irish people took to the streets on Saturday to oppose savage cutbacks needed to secure an international bailout, police said, piling pressure on the debt-laden nation's embattled government.

Waving placards reading "Eire not for sale, not to the IMF" and "there is a better, fairer way", the crowd marched through Dublin in a mass protest against the austerity package announced on Wednesday by Prime Minister Brian Cowen.

The four-year package will cut the minimum wage and slash 25 000 public sector jobs as the one time "Celtic Tiger" economy tries to pay off a huge budget deficit.

Cowen's government say the measures, along with a budget due on December 7, are a pre-condition to securing European Union and International Monetary Fund loans worth a reported 85 billion euros.

EU finance ministers will meet in Brussels on Sunday to discuss the loans, a French source told AFP, boosting speculation of an announcement before markets open on Monday morning.

Stop the crisis

The loans will be directed in part at Ireland's struggling banks and are intended to try to stop the debt crisis spreading to other eurozone nations.

But there is widespread anger in Ireland at the bailout and voters dealt Cowen's Fianna Fail party a humiliating by-election defeat on Friday which cut the FF/Green Party coalition's parliamentary majority to just two.

"Why should we pay for the banks? ... The euro is on its way out," said Esther Hoad, 48, a civil servant who drove 290km on frozen roads to join the Dublin protest.

About 700 police officers were deployed in Dublin for the march, which took place amid bitingly cold temperatures, although it was largely peaceful.

"We are here to object to the arrogance of the government," Irish Congress of Trade Unions president Jack O'Connor, who is also head of Ireland's biggest union, SIPTU, told the crowd.

He added: "They want to sign a blank cheque for generations to come. We're not here to pay for the speculators, but we're here to insist on a fair plan."

Unpopular leader

The march converged on the General Post Office, the scene of Ireland's declaration of independence in 1916, and a highly symbolic site for critics of the bailout who say it is eroding Irish sovereignty.

An actress read out the declaration to the crowd on Saturday, to huge applause.

Cowen has been fighting off calls from opposition lawmakers to quit over his handling of the economy, insisting he must see through the austerity package and the budget to secure the bailout.

Media reports suggested Ireland might be charged 6.7% interest on the nine-year loans, significantly more than the 5.2% rate charged to fellow eurozone country Greece when it was bailed out earlier this year.

Michael Noonan, finance spokesperson for the Fine Gael main opposition party, said the reports were "very disturbing", adding: "This rate is far too high and is unaffordable on any reasonable projection of growth."

No mandate to govern

Cowen has refused to go to the polls until lawmakers have passed the budget, not likely before January, but opposition parties have said he no longer has a mandate to govern.

In Friday's by-election in Donegal, the opposition socialist Sinn Fein party took what was once a stronghold of Cowen's Fianna Fail party.

Labour Party leader Eamon Gilmore said the premier's party "has neither the political mandate nor the moral authority to make the crucial decisions the country now faces."

The Irish Times said the budget would probably go through given the pressure from the EU and the IMF, but added: "There is a general consensus that Mr Cowen's days are numbered."

Read more on:    ireland
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/News
 

New GIF keyboard on iOS for added fun!

Soon sending an LOL! or facepalm will be so much more fun!

 
 

For chic geeks...

Puppy goes crazy over iPad game
Printable solar panels will bring exciting new opportunities!
Now there’s a special lane for texting while walking
LOL! 7 brutally honest texts from parents

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Pre-order your iPhone 6 at kalahari.com

Hurry and pre-order your own iPhone 6 now at SA’s favourite online store!

Bargain box – 60% off

Reduced prices, very limited stock. While stocks last. Hurry and shop now!

Mind blow low prices on electronics

Get either the Prestigio multiphone or Proline tablet 7” tablet for only R699. Offers valid while stocks last. Shop now!

30% off Barbie toys

Save 30% on all Barbie toys and accessories. Offer valid while stocks last. Shop now!

Baby extravanganza month at kalahari.com

Celebrate baby month with a wide range of awesome baby products. Offers valid while stocks last. Shop now.

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

As the Moon moves out of restless Gemini into sensitive Cancer today you are able to relax your active mind and be more receptive...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.