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Green Party policy change comes very late in the day – Morgan

30 August, 2010


Speaking in reaction to the news that the Green party have changed their official policy position in relation to Anglo Irish bank, Sinn Féin Spokesperson on Finance Arthur Morgan said the Green party, as partners in Government, cannot shirk their share of the blame for the current crisis facing this country as they have been supporting Fianna Fáil’s approach to Anglo Irish and the banking sector up until now.

Deputy Morgan said:

“The announcement that the two Green party Ministers will communicate their loss of support for the two current Government options for Anglo Irish bank, in favour of a quicker wind down, comes very late in the day when we consider the money that the taxpayers would have saved had the Green party withdrawn support for keeping this zombie bank alive sooner.

“Anglo Irish bank has been a leech on the life-force of this economy and the diversion of taxpayer’s money into keeping this abomination open has not only taken much needed funds out of the real economy, it has resulted in repeated downgrades of our credit rating and has increased costs of future borrowing.

“The Green party, as partners in Government, cannot shirk their share of the blame for the current crisis facing this country as they have been supporting Fianna Fáil’s approach to Anglo Irish and the banking sector up until now.

“However, the change in policy position in relation to the future of Anglo has brought the Green party round to what Sinn Féin has been calling for all along, creating further pressure on the isolated Fianna Fáil to pull the plug on Anglo Irish before anymore taxpayers money is squandered on plugging the Anglo black hole.

“Similarly, Irish Nationwide should not receive a single cent more of taxpayer’s money. In order to achieve the critical objectives required for economic recovery, AIB and Bank of Ireland should be nationalised.

“With such outpourings of taxpayer’s money into redundant bank like Anglo Irish, there is a need to reconfigure the banking system so that households and businesses have access to credit at fair rates and a State bank would offer low cost services, fund the purchase of new homes and assist people in genuine trouble financing their mortgage commitments.” ENDS

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