Killian Mangan🇮🇪

As always, Fine Gael and Fianna Fáil have socialised the losses and privatised the gains.

While the public took on huge debt and austerity to save the banks during the Financial Crisis, the wealthiest bank owners and bankers on huge bonuses are now allowed to make obscene profits at our expense.

https://www.rte.ie/news/business/2025/0128/1493302-state-reduces-aib-stake-again/

#Ireland #FinancialCrisis #Banking #PublicBank #StateBank #AIB #AlliedIrishBank #Austerity #IrishNews #IrishPolitics #NonProfitBanking #NonProfit

Jan 28, 2025 at 3:18pmWeb
Show threadKillian Mangan🇮🇪Jan 28, 2025

Our Government could easily have used the opportunity to convert AIB into a public non-profit bank competing in the market, which would have offered better value loans and mortgages for individuals and small/local businesses, similar to Germany's Sparkasse model.

Instead, FFG once again chose the wealthiest international investors over the workers, carers, and community businesses throughout Ireland.

#Ireland #FinancialCrisis #Austerity #IrishNews #IrishPolitics #NonProfitBanking #NonProfit