Eircom is stark warning to government: Toibín
Eircom is stark a warning to the government of the damage that can be done to this country’s key infrastructure by the ideology of privatisation. If we compare and contrast the trajectory of Eircom with Electric Ireland and Bord Gais the damage of privatisation becomes evident.
The former started off privatised life with an infrastructural advantage beyond the dreams of most communications companies. It ended up gutted and broke by venture capitalists for short-term profiteering.
As a result Ireland’s broadband and communication capacity is near last in the class in Europe. The ability for indigenous business to grow is stunted as is our ability to attracted Foreign Direct Investment.
In comparison Electric Ireland and Bord Gais are first word energy companies that add significantly to Ireland’s competitiveness. We have a government who is at the precipice of flogging a significant component of Ireland’s energy infrastructure in order to pay off private bank debt. To do so would be to knowingly repeat a grave strategic error to the long-term cost of the Irish people.