Irish people: IMF is not a friend! by Zivka Deleva

Irish people are nervous and anxious with their government concerning its latest decision to make-up the country's debt situation with the money their own money. Though no one was asked about this decision, the taxpayers are angry (and to be honest, they have every right to be), because the Irish government injected 17.5 billion euros of its cash and the pension reserves. With this bailout the politicians that lead the country want to cover up the banks situation. As a direct aftermath of this help, the bank stocks have risen today. Irish banks owe some 67.5 billion euros as far as a direct consequence by the economical recession that attacked the world two days ago. Some ! economical analysts and representatives of the political opposition in the country try to convince the government that when the time will come to return the money to the International Monetary Fund, the interest rate will be too high for the country. For a lot of people, this plan is not going to rescue the country and its people, but it is only going to bring more debts to the already drowned in mud Irish economy. Labor-union activists used their right to protest and this weekend they raised their voice against the injustice. Bankers do everything that's in their hand to explain to its people why does she think that the IMF is not an enemy them. "It's not cheap funding, but it's cheaper, and it buys the government time to get its finances on track" - Patrick Honohan, the independent governor of the Central Bank of Ireland said.

by Zivka Deleva for Cantell TV (http://cantell.tv)

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