Sinn Fein President Gerry Adams TD has called for the Taoiseach to take a lead from the Spanish Prime Minister and stand up for Irish interests in negotiations with the ECB by declaring the state’s inability to pay the Promissory Note.
The Sinn Féin leader also criticised the comments of the EU Commissioner Olli Rehn.
Deputy Adams said:
“Olli Rehn’s claim that respecting commitments and obligations is a key tradition in EU law is a nonsense. It was never applied to France or Germany when both regularly breached the stability and growth rules.
“Germany breached the deficit rules in 1994, 1996, between 2003 and 2006 and each year since 2009. It has broken the debt to GDP rule every year since 2003.
“France has broken the deficit rule every year since 2003 and has breached the debt rule every year since 2003.
“It is clear that for Mr. Rehn there is one rule for the Irish and another for everyone else.
“The EU has singularly failed to deal properly or effectively with the economic and banking crisis. It has staggered from one failed short term solution to another and has contributed to the crisis in the European banking system and to the levels of debt confronting Irish citizens.
“The Irish government should do what is in the interests of the Irish state and of Irish citizens and declare its inability to pay the promissory note.”