RSF- 'Nationalise all banks to be accountable to people'

national | anti-capitalism | press release Saturday January 17, 2009 20:48 by RSF - Republican Sinn Fein

www.rsf.ie

Republican Sinn Fein call to 'Nationalise all banks' to be accountable to the Irish People.

Statement by Des Long, Vice President of RSF

The appalling job losses in Newcastle West, Abbeyfeale and in Tralee, all Co. Kerry, and throughout Cork present a human tragedy not reflected in media coverage, the chairman of the Munster RSF Executive said today.

Des Long from Limerick who is also the vice president of RSF said that the failure of the politicians to halt the jobs drain is an indictment of current economic policy.

"It is all too easy to rely on foreign investment to create jobs but the real test is in maintaining the jobs in the long term and cementing them into the economy", he said.

He continued: “We are now seeing the awful effects of mobile capital investment or international capitalism and how it crushes the lives of employees in our society".

"Therefore the focus must be on creating jobs that are native and capable of being sustained by local economic activity. There is now a growing need to develop the economy on lines that are more compatible with the outlook of the Irish people where native endeavour must be encouraged and accountable to local concerns".

We have now seen where one bank is being nationalized. This must be the start of a widespread overhaul of the entire banking sector – and the industry nationalized for the benefit of all the people of Ireland.

The banking industry cannot continue to be left in the hands of pinstriped crooks and money speculators who are accountable to no one and whose only god is greed.

The banks must act in the interests of the people and nationalization is the only way to ensure that the industry is held accountable.”