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Sinn Féin disappointed at rejection by European Parliament of retrospective recapitalisation demand

13 March, 2014 - by Pearse Doherty TD, Martina Anderson MEP


Sinn Féin MEP Martina Anderson has said she is disappointed by the decision of the European Parliament not to support her call for the retrospective recapitalisation of Ireland’s banking debt through the ESM.

“I am disappointed by the decision of MEPs led by Fine Gael’s own parliamentary group to reject my amendments in support of the retrospective recapitalisation of Ireland’s banking debt through the ESM. The amendments were tabled as recommendations to a Report on the role of the Troika in Ireland and other countries.

"I tabled two amendments seeking the explicit support of MEPs for the retrospective recapitalisation of Ireland’s banking debt as we were told was a possibility in June 2012. At that time the Eurogroup opened the possibility of Ireland recouping some of the money it pumped into our pillar banks.

"The Taoiseach called it a “seismic shift” but approaching two years later it is clear the government have failed to fulfil the potential of that decision.”

Sinn Féin Finance spokesperson Pearse Doherty TD also expressed disappointment saying:

“I commend the initiative of Martina Anderson in pushing the Parliament to state where it stands on the issue of retrospectively recapitalising Ireland’s banking debt through the ESM. I am disappointed by the failure of MEPs to support her amendments.

"I am not surprised however, since June 2012 the government has failed to make any progress and convince other EU countries of the need for retrospective recapitalisation. Unfortunately that failure is reflected in today’s vote.”

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