Workers Solidarity Movement

It has been revealed that the changes in tax credits contained in the IMF/ECB four year austerity plan will hit low paid and average paid workers far harder than the those who earn hundreds of thousands.  A worker on 36,000 a year will pay around ten times as much extra tax as a percentage of their income than a banker earning 300,000 will.  In real terms both pay exactly the same, 1860 euro.  The independent think tank TASC has produced a short report which graphically illustrates the deepening of inequality that is contained in that aspect of the four year plan.

Having announced their decision to sack 1,200 teachers and an untold number of Special Needs Assistants last week, the government has swiftly followed it up with a plan to make unemployed teachers and other school staff work for free.

Dublin Saturday 27th November 100,000 on ICTU march. I was there and I heard the booing.

Got back to Cork late Saturday, after an icy drive down the motorway. Visiting a friends house after coming back , relating the story from the day. "Did you boo Jack O'Connor then?" says one.

Despite freezing temperatures, an estimated one hundred thousand people were on the streets of Dublin today to take part in the ICTU demonstration against the draconian four year plan, which is raising taxes on low paid workers, slashing wages, social services and cutting social welfare.  The WSM took part in the demonstration with the 1% Network, highlighting the wealthy 1% of the population who own 34% of the wealth, and pointing out that only a general strike can force them to back down from making us pay the full costs of the crisis.

The WSM welcomes the statement by Chief Superintendent Michael O'Sullivan about the groups and individuals who wish to exploit the fact that thousands will be on the street tomorrow, and use that for their own ends.

This article was written prior to the big ICTU anti-cuts demonstration of November 2010 and in the afterfath of a large anti-student fees demonstration where a two thousand strong militant breakaway was attacked by Gardaí.

An article headlined "Gardaí on alert for Dublin protest" published this evening on the Irish Times website is a clear attempt by the political establishment to divide protesters and create an atmosphere of fear amongst those attending.

Garda Chief Supt Michael O'Sullivan is quoted as saying “there are individuals and groups who seek to exploit such events for their own ends”. This is a globally recognised police tactic of trying to divide the movement into "good" and "bad" protesters. This follows weeks on from disturbances at the national student march where Gardaí in riot gear launched an unprovoked attack on demonstrators.

Recently bond holders in Anglo Irish Banks agreed to a voluntary reduction to 20% of face value on 2017 junior bonds.  This morning the ISDA Determiniation Comittee (International Swaps and Derivatives Association) announced that this constituted a restructuring credit event, triggering CDSs (Credit Default Swaps) on Anglo Irish Bank.  Restructuring credit events trigger what is known as the "Small Bang Protocol" for CDSs which cover some events which are not complete defaults.

The 1% Network has called on all workers to attend the march organised by the Irish Congress of Trade Unions on Saturday morning next to “show their opposition to the anti-people policies of the Irish government, the European Central Bank and the IMF”.

While the state continues to be rocked by the result of devastating effects of 10 years of rampant capitalism crashing the focus has been conveniently been shifted from the serious problems within our health service. A common belief is that before things get better they must get worse and under the 4 year plan they are about to get a lot worse. In the case of a health service this couldn’t be further from the truth. The obvious result of a worsening health service is higher national morbidity and mortality. Are we prepared to allow this to occur?