Sinn Féin Deputy Leader Mary Lou McDonald has said the last night’s comments from European Commission President Jose Manuel Barroso put the issue of retroactive recapitalisation of Irish banks in serious doubt.
Deputy McDonald was speaking today after Mr Barroso said the Euro was a victim of irresponsible practices in the Irish financial sector and that the European Banking Union was for the future and not retroactive.
Ms McDonald said;
“Mr Barosso’s comments are an attempt to place the blame for the financial crisis firmly at Ireland’s door and to remove any responsibility from Europe.
“He is sending a strong signal that retroactive recapitalisation of Irish banks is not going to happen.
“This is a very sad reflection on the state of play in the negotiations that the government tells us are underway.
“Far from negotiating retroactive recapitalisation, the government has not advanced past the point of convincing the European Union that it carries some responsibility for the financial crisis.
“Enda Kenny needs to make it clear to the European Commission that Europe played a major role in the financial crisis in this state and therefore carries a significant responsibility.
“These comments are deeply disappointing and show that the government has overplayed the possibility of retroactive recapitalisation.”