Following a meeting with the Troika in Dublin this morning, People Before Profit TD, Richard Boyd Barrett said the Troika would give no clear answers on the so-called breakthrough debt deal.

Asked by Deputy Boyd Barrett how we will really benefit from this deal, the Troika replied that there were no details currently available but that it was a “new approach”. Deputy Boyd Barrett made the point that twelve years of focusing on re-capitalising the banks has not solved any of Ireland’s problems and when asked how this new deal will change anything the answers were absolutely vague.

The Troika did make clear that their strategy is to cut costs in the economy which means more cuts and privatisation to try to stimulate foreign investment.

Deputy Boyd Barrett pointed out that this strategy is depressing demand and is based on a mere vague hope that it will stimulate growth.

The Troika called this “a concern “ but it is more than just a concern that their policies are crushing the domestic economy with growing unemployment while the export market we are told will be our salvation is in fact contracting.

The Troika also defended property tax and claimed that there is a correlation between property value and the income and earnings of property owners.

In his statement, Richard Boyd Barrett said, “the claim that there is a correlation between property value and the income and earnings of property owners is rubbish. There are huge numbers of people in property that is considered nominally valuable that are unemployed”.

“The answers from the Troika on the details of the so-called break-through on banking debt were pathetically and hopelessly vague”

“All we learnt from the meeting is that the policies of austerity and privatisation will continue and the only clarity today is that attacks on peoples’income will continue and that there is in fact no strategy for growth or for reducing unemployment”.

Article source: http://richardboydbarrett.ie/2012/07/04/no-answers-from-troika-on-so-called-breakthrough-debt-deal-just-promises-of-more-cuts-and-privatisation/