The government will be paying out a Christmas bonus to welfare claimants after all, though with a few minor adjustments.
To help meet costs, the poor, the old and the sick have been excluded from the scheme, in favour of the newer claimants: bank investors, bondholders and senior management.
This Christmas sees the introduction of the biggest welfare payout in history as the Irish government pays €54 billion for the banks’ bad assets to save the institutions and their owners from the consequences of their greed.
The government expects €20 billion of this to be written off over the lifetime of the scheme, but hopes to cover the cost by closing schools and hospitals, slashing healthcare budgets, eliminating public services and allowing the infrastructure of the country to crumble.
Success is by no means certain at this point, but it is hoped that the international bondholders and the Irish management of the banks will feel no pain at all as a result of their dishonesty.
Three cheers for the Irish taxpayer!!