After weeks of dancing the seven veils, trying to hide what they were up to, the government, the EU and the IMF announced on prime time Television today (28 November) that they have signed up to an €85 billion bailout. The money which has 5.8% interest rate attached to it will go to recapitalise the banks( €10bn); fund the budget (€50bn) and deal with “banking contingencies” (€25bn). So in other words the whole lot is going to bail out the banks and keep the government finances going.

100,000 marched from Wood Quay to the GPO today in protest against the austerity measures outlined in the four year plan despite the cold wintery weather. A few even demonstrated in a curagh on the Liffey – the workers navy has arrived. Meanwhile the government are behind closed doors discussing the bailout package with the officials.

Despite some increasingly desperate and clumsy attempts to hide the fact that they were in discussions with the EU and the IMF over a bailout the Government was eventually forced to admit what everyone already knew; that they were desperate to secure a huge bailout to attempt to stabilise the Irish economy. The announcement was met with a huge wave of anger and the thin veneer of normality in Ireland has been ripped apart on prime time TV.

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