By David Mc Williams
It is an interesting phrase, and worthy of some consideration.
If a country is in economic receivership, what does that mean for existing state contracts signed at a time when the state was solvent? Can they be honoured? Is there a receivership
mechanism for a country in receivership? And if there is, who are the preferred creditors? Clearly, the state can’t deliver on old contracts because it simply doesn’t have the money. So who suffers?
This is an extremely important question, because, over the coming months the state will have to change the terms of many contracts entered into when times were better. Take the issue of golden handshakes for top dog mandarins, as just one example. Last week, we saw
what seems to any reasonable person like an exceedingly generous golden
handshake to a senior civil servant.
How does a state, and one which is bankrupt, deal with these types of contracts signed when we had loads of money but delivered when we are bust?
.Read full article at source: http://www.davidmcwilliams.ie/2011/09/12/it%e2%80%99s-time-to-protect-the-citizens?utm_source=WebsiteSubscribers&utm_campaign=65718bbc6c-Weekly_Roundup_10_August_2011&utm_medium=email
This is an excellent article from David Mc Williams and well worth the read .I expect most of the citizens in this country would agree with the thrust of this article however Mr. Williams, this country is not run for the benefit of the majority of this country’s
citizens it is been treated as the private property of the political elite and
their cronies .Thus the lottery golden handshakes to X politicians and top
civil servants is the norm. These very people never miss a chance to appear on
the state controlled media to tell us mere peasants we are living beyond our means and we must take on another good dose of severe austerity measures for the good of the country. When will the Irish public wake up and rid ourselves of these leaches lurking in all of the political parties?
- Obama’s new jobs Stimulus (thepressnet.com)
- Top civil servant received a pension package worth over €700,000. (thepressnet.com)
- Are politicians afraid of senior civil servants? (politics.ie)
- FG Lab not tackling the vested interests. (politics.ie)
- Sunday Independent Stupid Statement of the Week (cedarlounge.wordpress.com)