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Gilmore missing the point on EU/IMF deal – Doherty

4 January, 2011 - by Pearse Doherty TD


Responding to Eamon Gilmore’s interview on the News at One today Sinn Féin Finance Spokesperson Pearse Doherty said the Labour Party leader is missing the point on the EU/IMF deal.

Deputy Doherty said regardless of whatever renegotiation that may or may not take place after the election, if the incoming Government does not allow for the bondholders in banks such as Anglo Irish Bank to be burned then they will simply be continuing on the same road to economic ruin as the current Government.

Speaking this afternoon Deputy Doherty said:

“Eamon Gilmore is completely missing the point on the EU/IMF deal. This deal includes €30 billion for the banks.

“Regardless of whatever renegotiation that may or may not take place after the election, if the incoming Government does not allow for the bondholders in banks such as Anglo Irish Bank then they will simply be continuing on the same road to economic ruin as the current Government.

“Eamon Gilmore is seeking to rearrange the deck chairs on a sinking ship.

“The fact is that Ireland cannot afford this loan. It is a loan that includes billions of euros to pay off bondholders in banks such as Anglo Irish Bank. The only reasonable option for any political party that seeks power in this state to take is to burn these bondholders and refuse the EU/IMF loan.

“We must then reverse the disastrous decisions taken by this Government, set the economy on a new progressive trajectory and by separating private banking debt from sovereign debt return to the bond markets at the earliest opportunity.” ENDS

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