CONGRESS TELLS TROIKA 'WE NEED A PLAN FOR GROWTH'

19 Oct 2011

Congress has told officials from the 'bailout troika' that Ireland needs a plan for growth and not more prescriptions for austerity.

Speaking ahead of a meeting with 'troika' officials from the IMF/ ECB and European Commission, Congress General Secretary said: "We desperately need a plan for jobs and growth, an innovative strategy that will help to kickstart an economy that is effectively flat lining.

"The troika officials cannot ignore the evidence and it is no longer sufficient to administer prescriptions for cuts and ignore the consequences of those cuts. This is reaffirmed by the dreadful news from Aviva today and the terrible blow dealt to 950 people and their families.

"We now have to now focus on growth as it presents the only viable escape route from this crisis," Mr Begg said

He said that a forthcoming Congress pre budget submission would contain "realistic investment proposals that would help create jobs and give people some hope."

Mr Begg said that there was "a serious contradiction" at the heart of the official response to the crisis, at both a national and EU level. To date it has focussed on cutting wages, welfare rates and the living standards of working people.

"But the crisis didn't originate with working people, it originated with private, profit hungry banks and reckless management.

"Yet there been precious little focus on reforming the hugely powerful and secretive banking system to ensure that it can never again bring Ireland and Europe to the edge of collapse.

"It seems reform is for the 'little people' and that the real source of the problem will remain untouched," Mr Begg said.