In some respect it can be said that the real dimension of the socio-economic crisis is only now getting obvious. And for Ireland it is surely as well a crisis with some very specific dimension. Peter Herrmann suggests in a contribution elaborated in connection with his work at the Max-Planck-Institute for Foreign and International Social Law that one may speak “of a second historical famine: what once appeared as crop failure but had in actual fact been a policy of famishment by the british colonial power appears to day as policy of mismanagement and greed by some superrich is actually a policy of famishment by policies in the global colonialising financial sector. Foreign, not least German capital established over a long time a dependency which is now extended beyond the climax of the crisis. It is still the foreign capital that, under the sheet anchor of the IMF and World Bank promises to act as savor of the economy but not urge towards a sustainable development Instead it opts for short-term oriented measures, systematically fading out the social costs.
Relevant in this context is surely the following document: ATTAC Scientific Council_Euro-crisis_3-11