Irish taxpayers are prepared to put their shoulders to the wheel again in the name of patriotism…this time to bail out Irish Water.
Get ready folks…get ready to bail!
First you will allow them to put in water meters. Then you will have to pay for water. Then you will pay for their debts, just like we did for the banks, when Ervia, owner of Irish Water, goes burst!
In this country we are CONSISTENTLY CLEAR about one thing…the taxpayer can be leaned upon in every emergency.
According to ratings agency Standard and Poors the controversial Irish Water will be bailed out by “extraordinary government support in the event of financial distress”. The ratings agency considers that there would be a “high” likelihood of such government largesse in the event of Irish Water getting into difficulties.
Reporter Donal O’Donovan in today’s Irish Independent is reporting on this latest development. Worth a read folks…especially as YOU will end up picking up the tab if/when Irish Water comes a begging banklike.
The improved rating that Standard and Poors has given to Irish Water ( an upgrading from BBB+ to A-) means that Irish Water has now got a better licence to borrow money…which you and I will be forced to repay when the dam bursts (again). No responsibility need be taken on board by the semi state company because Good Ole Irish Taxpayer has their back. This is a licence for irresponsibility. And so far, Irish Water’s track record with finances doesn’t inspire confidence.
One wonders…since Standard and Poors feel so confident in handing out their Upgrade, was there perhaps a reassurance given to Irish Water by Government that they need have no worries about repaying debts? Did anyone, by any chance, whisper the word “Taxpayer” into a watery ear?
Just wonderin’ !
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