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“Fianna Fáil/Green Government should resign in shame” – Ó Caoláin

19 November, 2010 - by Caoimhghín Ó Caoláin TD

Sinn Féin Dáil leader Caoimhghín Ó Caoláin has called on the Taoiseach Brian Cowen and the Fianna Fáil/Green Government to resign in shame at the economic disaster they have brought on the Irish people. He said that the intervention of the IMF would represent a loss of control over our economy with implications far beyond the 12.5% corporation tax rate on which the media have focussed.

He said:

“This country is facing one of the greatest crises in our history and we have a Taoiseach and a Cabinet who spent the last week trying to deceive the Irish people. The Taoiseach and his Fianna Fáil/Green Government should resign in shame.

“The intervention of the IMF is a disaster for Ireland, brought about directly by the scandalous policies of this Government. An EU/IMF bail-out will not be a bail-out for the Irish people. It will be a further bail-out for the banks but the Irish people will have to pay the price.

“This will represent a loss of control over our economy with implications far beyond the 12.5% corporation tax rate. While the media have focussed on this, the reality is that the IMF dictates policy across a whole range of areas. This will mean even more savage cuts to health and education, public service jobs and social welfare as well as tax increases for the lower paid and the selling off of State assets.

“The tragedy is this need not have happened. If the Government had burned the bondholders, set up a State bank and pursued a real plan for economic recovery there would be no call for any such bailout. It can still be avoided.

“Instead Fianna Fáil and the Greens are about to bring us down the road of so many countries where the IMF has dictated policy such as
Latvia where there was a 30% cut in public service jobs and 17 hospitals closed; Greece with massive wage cuts and job losses and riots on the streets; Iceland with savage cuts in health spending, widespread repossessions and evictions; and Ukraine with closed hospitals, pension cuts and unemployment doubled.

“We need an immediate dissolution of the Dáil and a General Election before this Government condemns the people to another decade of economic recession.”

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