Fintan O’Toole: Governments need to resist corporate blackmail over bailouts

A repeat of the last crash, with ordinary people bled dry, would be catastrophic

Even as the US was setting aside $50 billion to bail out airlines, the conservative government in Australia allowed Virgin Australia to go into administration. Photograph: Saeed Khan/AFP via Getty Images

Even as the US was setting aside $50 billion to bail out airlines, the conservative government in Australia allowed Virgin Australia to go into administration. Photograph: Saeed Khan/AFP via Getty Images

You, me and Mrs Murphy down the road are currently subsidising Donald Trump. The staff at his Doonbeg golf resort in Co Clare are having 70 per cent of their wages paid from funds we are borrowing on international markets.

And rightly so. Those jobs matter. Trump’s Irish employees have the same right to protection as the other million members of the workforce who are currently having all or most of their wages paid from public funds. But the longer this crisis goes on, the more uncomfortable this State support for self-proclaimed multi-billionaires will become.

The Irish Times
Please subscribe or sign in to continue reading.
The Irish Times

How can I keep reading?

You’ve reached an article that is only available to Irish Times subscribers.

Subscribe today and get the full picture for just €1 for the first month.

Subscribe No obligation, cancel any time.