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Taoiseach needs to come clean on EU bailout fund

17 December, 2010

Sinn Féin Deputy Leader Mary Lou McDonald has called on Taoiseach Brian Cowen to immediately come clean on the implications of the new EU bailout fund for Ireland. She said ‘Ireland’s experience of this fund to date has been that they are screwing us with exorbitant interest rates. They are now threatening new, strict conditions being attached to future financial assistance’

Ms. McDonald said:

“In the course of the Lisbon Treaty Sinn Fein highlighted the fact that the self amending provisions of the Treaty would have far reaching consequences for this State and allow decisions to be taken by bureaucrats in Brussels. EU leaders are now using Article 48 of the Treaty to push through their new bailout fund and there are serious concerns about the implications of this approach for Ireland.

“The Taoiseach needs to come clean about what is envisaged here and to set out how the matter will be decided in this state – does he intend to have a Dáil vote? Or how does he intend to ratify this?

“But above all he needs to be clear about what the ‘strict conditionality’ clause means. Our experience so far with the EU bailout fund is that they are screwing us with their interest rates and forcing through an economic strategy that could bankrupt us.” ENDS

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