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Taoiseach supports treaty change but refuses referendum – Adams

26 October, 2011 - by Gerry Adams TD


Sinn Féin President Gerry Adams TD has accused the government of being prepared to introduce unacceptable treaty change giving Europe greater fiscal control over Irish affairs, without giving the people the opportunity to vote on this crucial issue.

Mr. Adams said:

“On 30 September in Warsaw the Taoiseach ruled out treaty change as part of efforts to solve the Euro crisis. On 10 October he reiterated this position.

“However last Sunday the Taoiseach and other EU leaders agreed to treaty change.

“This morning during Leaders Questions the Taoiseach said he had no problem with limited treaty change and refused to give the people their right to vote on this issue through a referendum.

“He also refused to facilitate a Dáil sitting next Tuesday to allow for a debate on the issue of the government handing €700 million over to unguaranteed bondholders.

“The Taoiseach claimed that this payout of money was as a result of the Anglo promissory notes agreed by the previous Fianna Fáil government and washed his hands of being able to do anything about it.

“This is not the case. The Anglo promissory notes are a separate matter to the pay out of bondholders. The last Government placed €31billion of promissory notes in Anglo & Irish Nationwide last year with a promise to pay €3.1 billion into the banks every year for the next ten years.

“The Taoiseach could tear up these notes and his finance minister has stated that he is attempting to negotiate the non-payment of the notes with the ECB.

“The €700 million being paid out on November 2nd is a payment to private bondholders being undertaken by Anglo with the permission of the Government.

“This is a matter which falls within this government’s control. The bond is unguaranteed. It is a bond that should not be paid. Not paying the bond is not the same as defaulting on the promissory note. The Taoiseach does not seem to understand this.”

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