Committee for the Abolition of Illegitimate Debt

People in Ireland have joined millions of people worldwide repaying unjust and illegitimate ‘debts’.

Ireland’s debt repayments for the now dead Anglo-Irish Bank will reach over €47.9 billion by 2031 if the repayments are not suspended! That is 30% of Ireland’s GDP GDP
Gross Domestic Product Gross Domestic Product is an aggregate measure of total production within a given territory equal to the sum of the gross values added. The measure is notoriously incomplete; for example it does not take into account any activity that does not enter into a commercial exchange. The GDP takes into account both the production of goods and the production of services. Economic growth is defined as the variation of the GDP from one period to another. . These payments could even increase to as high as €85 billion.

The debts run up by the former Anglo-Irish Bank and Irish Nationwide Building Society (which we are simply calling ‘Anglo’) are not the responsibility of people living in Ireland – they are the responsibility of those who supported Anglo’s reckless lending. Yet we have been saddled with repaying the debts through so-called ‘promissory notes’. The next payment, amounting to €3.1 billion, falls due on 31^st March. Such payments will continue for years to come – until the 2030s!

This money could and should be used to maintain and expand public services and provide a desperately needed stimulus to the depressed economy. For example, €3.1 billion would cover the cost of running Ireland’s entire primary school system for a year.

We call on the government to immediately suspend these repayments and to enter into negotiations with the relevant parties, including the European Central Bank Central Bank The establishment which in a given State is in charge of issuing bank notes and controlling the volume of currency and credit. In France, it is the Banque de France which assumes this role under the auspices of the European Central Bank (see ECB) while in the UK it is the Bank of England.

ECB : http://www.bankofengland.co.uk/Pages/home.aspx – to ensure that this unjust debt is written down.

Take action! Click here to sign our Avaaz petition to stop the €3.1 billion promissory note payment on March 31^st.

More information: http://www.notourdebt.ie/

A Women’s Day Call to Feminists in Ireland, Europe and Internationally

As International Women’s Day approaches, we are sending you a call to action from women in Ireland to support us in our campaign to stop the payment of unjust debts on zombie Anglo Irish Bank.

This video tells the story of the Anglo illegitimate debt and of how unjust debts are damaging our lives and the lives of women everywhere.

Please support the film’s call from the women in Kilbarack community, Dublin. In Kilbarack, women are losing vital community projects, health and education services, and services to elderly and disabled women.

Allowing such injustice against the women of Kilbarack is an injustice against women living under unjust debts everywhere.

We are asking you to do 2 things for International Women’s Day, Thursday 8^th March:

1. Sign our petition calling for a suspension of the € 3,100,000,000 payment (yes, € 3.1 billion!) due to be made by the Irish government on behalf of Anglo on 31^st March. And please share Share A unit of ownership interest in a corporation or financial asset, representing one part of the total capital stock. Its owner (a shareholder) is entitled to receive an equal distribution of any profits distributed (a dividend) and to attend shareholder meetings. the petition with others.

2. Write to your MEPs at the EU Parliament and ask them to support Women in Ireland on International Women’s Day by calling for a suspension of payments on Anglo Irish Bank. You can find a draft email to your MEPs here to help you. Your MEPs email contacts can be found here .

The European Central Bank ECB
European Central Bank The European Central Bank is a European institution based in Frankfurt, founded in 1998, to which the countries of the Eurozone have transferred their monetary powers. Its official role is to ensure price stability by combating inflation within that Zone. Its three decision-making organs (the Executive Board, the Governing Council and the General Council) are composed of governors of the central banks of the member states and/or recognized specialists. According to its statutes, it is politically ‘independent’ but it is directly influenced by the world of finance.

https://www.ecb.europa.eu/ecb/html/index.en.html is insisting Ireland makes this massive, unjust payment. If the Irish government gets the courage to suspend the payment, Ireland’s negotiating power with the ECB will be much stronger.

We only have a few weeks to stop the payment so PLEASE ACT NOW.

We don’t want to pay this debt and we should not have to.

With thanks and in solidarity,

The women of Debt Justice Action