Great Drain Robbery

It is now being revealed that the Germans and French pulled off THE biggest heist in history by taking the Irish taxpayer for an astonishing €64bn.

That makes the Great Train Robbery look like peanuts.

According to Philippe Legrain, a senior economic advisor to the European Commission at the time, Ireland was threatened with being kicked out of the Euro if it didn’t pay back the debts owed by the bust Irish banks like Anglo to the German and French banks who stupidly loaned them the money to give 120% mortgages to people who had shown no previous ability to save.


When a business goes bust, those who loaned money to it lose their money. It’s up to those loaning money to assess the risk and if they get it wrong take the consequences.

The Irish people were volunteered to take the loss caused by the Irish banks being effectively bust.

The Germans and French taxpayers should have had to bail out their own banks for the bad investment decisions that they made, if the banks couldn’t make it good by themselves.


However, the German and French leaders decided to bully the Irish Government into making the Irish taxpayer pay for the French and German banks’ mistakes so that they wouldn’t have to force it on their taxpayers.

They were aided and abetted in this heist by the European Central Bank, who should have been neutral in this.

Ireland was forced to accept €64 billion in loans in order to pay those stupid German and French banks back so that their own taxpayers wouldn’t have to bail them out.

It has saddled every man, woman and child in Ireland with €14,00 of debt each, and youngsters entering the jobs market now will still be paying it back near to their retirement age.

Pain and Suffering

It is the reason that Ireland has brought in the property tax and the water rates – so that German and French taxpayers don’t have to.

As Ireland has only 4m people and the Germans and French have around 140m between them it would only have cost each of their population around €280 per person.

Instead they bullied Ireland into paying the lot so their citizens would have to eat €14,000 of debt each.

They then had the cheek to call it an Irish bailout when it was really the Irish taxpayer who bailed out the French and German banks and the French and German taxpayers – not willingly but forced to by successive Irish Governments.

Bets Off

It was like a German or French tourist putting their holiday money on a horse they thought was a certainty at Moville Bookmakers and then bullying Donegal Council into paying them back when it lost.

The German banks took the punt and then got it all paid back by the Irish taxpayer, volunteered by successive Governments here.

Said Legrain “Throughout the crisis, the ECB has furthered the interests of French and German banks and proved itself to be unimpartial. Other European banks should have been forced to accept losses”.

He said “the bailout ended up lumbering Irish people, who have already suffered enough with collapsing house prices, with a €64 billion bill for bailing out bust banks”.

The Truth

There you have it – from a man at the centre of the storm.

The EU is supposed to be about lots of different countries but every so often the German and French leaders get together to set policy for it.

We’re all supposed to be equal in the EU but some Europeans are more equal than others, it seems.

Of course, although we can blame the bullies and the ECB for not being impartial, there are also those who didn’t stand up to the bullies and by not doing so have condemned several generations of Irish people to massive debts.

Most of the pain and suffering and the high unemployment and our youngster having to emigrate and our businesses going bust are down to the French and German bullies and to those here in two different Governments who lay down and refused to stick up for the Irish people.

Call Their Bluff

Our leaders don’t find it a problem standing up to the Irish people – but when the fancy foreign Governments come along withe ECB by their side then our leaders over the last number of years have just rolled over and accepted whatever humiliation is visited on them on behalf of the Irish people.

The French and German bluffs should have been called at the time. There would have been a huge outcry if they attempted to throw us out of the Euro. Other small countries would have had their say.

One can think of previous Irish leaders who wouldn’t have rolled over so meekly (perhaps even Bertie Ahern as well).

What Are They Going To Do Now?

So, now that European insiders have told our leaders that they were the victims of the biggest robbery in history, what are they going to do about?

Now that they know how The Sting worked and who did it – what are they going to do now?

Are they going to kick up an almighty stink about it and demand that the money is paid back, maybe even taking it to the European court and put the likes of Merkel on the stand and will they challenge whether the ECB acted impartially?

Are they angrily going to challenge Merkel and Hollande at the next big meeting?

Are they going to demand change at the European Union and especially at the ECB, getting the votes of the other smaller countries?

Or are they just going to roll over once again?

On past experience one would expect it to be the latter.

And with the new water rates the Irish taxpayer has to bend over once again because our leaders won’t stand up to the bullies.