Sinn Féin MEP Lynn Boylan accuses former FG Taoiseach John Bruton of ‘fessing up’ to a failed fiscal and economic policy
Sinn Féin MEP for Dublin Lynn Boylan today described the former Fine Gael Taoiseach John Bruton’s comments on the impact of the Fiscal Treaty on Ireland’s recovery as a ‘fessing up’ to a failed fiscal and economic policy.
The Dublin MEP said:
“Austerity is not working and a ‘one size fits all’ EU fiscal policy simply does not allow for the necessary flexibilities member states economies need to grow and support society.
“John Bruton, having previously described support of the Treaty as a signal that Ireland had got its act together, has now fessed up that in fact austerity will result in economic stagnation or worse, for the next ten to fifteen years.
“Fine Gael and Labour balked at the first hurdle in securing a bad bank debt write down from the EU and have floundered ever since. Both government parties have failed to stand up for Ireland’s interests in Europe, and citizens are paying a very heavy price.
“Sinn Féin’s rejection of the Austerity Treaty was correct as is our demand for an investment led recovery. Ireland desperately needs a stimulus and a rowing back on further tax increases and spending cuts.
“The latest CSO Quarterly Household figures show the meagre gains in employment are slowing down, illustrating confidence in the economy is declining, as another wave of austerity is about to hit with a further €2 billion budget adjustment on the cards.
“Austerity is fundamentally damaging the economy and our society, it is simply bad economics.”