Sinn Fein Finance Spokesperson Pearse Doherty TD has said Enda Kenny’s letter to President Van Rompuy is a cover for his failure to recoup any of the monies used to bail out the banks.
Deputy Doherty said:
“Recent comments from both the head of the ESM and the German Finance Minister have shown how unlikely the prospect of Ireland’s banks being recapitalised through the ESM have become. In July the Eurogroup chair Jeroen Dijsselbloem said there was no political support for such recapitalisation.
“Sixteen months ago Enda Kenny triumphantly claimed he had achieved a ‘seismic shift’.
“Since then Ireland has taken on the odious IBRC debt as formal sovereign debt and introduced two more austerity budgets at a cost of over €5 bn. Last June’s Eurozone statement was vague at best but in the intervening months the government has clearly let the momentum slip. They have missed an open goal and a letter to President van Rompuy cannot cover up that fact.
“Sinn Fein hope recapitalisation can be achieved but the government must stop spinning and come clean on the issue.
“The government should answer some straight forward questions.
“Why has it taken the Taoiseach sixteen months to raise this issue? Which governments have signalled support for such recapitalisation and to what extent is any recapitalisation going to recoup the money pumped into banks and how will it help our citizens and lessen austerity?
Until these simple questions can be answered, letters to EU bureaucrats can only be seen as cover for the complete failure of the government on this issue to date.”