The Irish Central bank which acts as the country’s financial regulator, as all other powers including the issuance of currency and the setting of exchange rates were surrendered to the European Central bank, has said we must bring in more migrants to undercut wages.
The ECB sets interests’ rates almost solely to benefit the German economy which is hyper-competitive, and export driven.
In an attempt to mimic the EU hegemon, Ireland’s financial elite seek to import unlimited numbers of migrants to mount downward pressure on Irish wages and undercut Irish workers already under huge pressure from the rising cost of living and inflated property market.
A report from the Irish Central Bank acknowledges that net migration is increasing but a large portion of these migrants are high skilled which does not exert much downward pressure on the wage market.
The report suggests that while increasing mass migration into Ireland of low and unskilled labour will put even greater pressure on the already immensely strained renting and housing markets, what with 10,000 Irish homeless, it is needed to help undercut the wages of the Irish working and middle class.
The report does not however, consider the social implications of importing mass amounts of low skilled labour from the Third World or the effect will have on the country’s crumbling infrastructure such as the Health system.
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