Not Our Debt
Source: Debt Justice Action
The Not Our Debt campaign calls on the Irish government to immediately suspend debt repayments run up by the former Anglo-Irish Bank and Irish Nationwide Building Society (which it calls simply 'Anglo'). The Not Our Debt campaign argues that these debt repayments are unjust and illegitimate, and that they are not the responsibility of people living in Ireland. Instead the debts, which will reach over €47.9 billion (30% of Ireland's GDP) by 2031 if the repayments are not suspended and could even increase to as high as €85 billion, are the responsibility of those who supported Anglo's reckless lending. The Not Our Debt campaign calls on the Irish government to enter into negotiations with the relevant parties, including the European Central Bank to ensure that this unjust debt is written down, so that the money could 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.
The Not Our Debt campaign website includes factual resources explaining the campaign, Anglo debt and the promissory notes, economic terms and the debt incurred by each county in Ireland. It also includes videos, presentations, posters and infographics related to the campaign.