Zombie Republic of Ireland (2010-2013)

Tonight, on #promnight, the winding-up has been announced of the Zombie Republic of Ireland, formed in 2010 when the former sovereign state became a ward of the Bundestag’s finance committee.

The end-of-life processes of the former Republic were accompanied by rushed late night decision-making and ill-considered legislation. The death notice, issued from ECB President Jean-Claude Trichet, has never been made public.

The zombie successor state was artificially kept in an animated state as a toxic repository where 1% of the EUs population has been assigned 42% of the European banking debt. Tonight, this European banking debt is poised to be consolidated as sovereign debt in late-night rushed legislation, completing the end-of-life processes began in 2010.

Next week, Expressions of Interest will be sought by the ECB for the right to tender for the use of the space formerly occupied by the Republic of Ireland. These proposals will not be eligible for structural funding. The remaining population will be infected by 42% of toxic European bank debt and its half-life is expected to be 20 years, with all traces gone by 2053 when the Trichet letters will finally be released.