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Doherty welcomes ‘Anglo-Not Our Debt’ campaign

23 January, 2012 - by Pearse Doherty TD


Speaking today Sinn Féin Finance spokesperson Pearse Doherty TD has welcomed the setting up of a new civil society campaign calling for the government to stop paying the Anglo Irish Promissory Note.

Anglo-Not Our Debt is calling on the government to immediately suspend the Promissory Note repayments and to enter into negotiations with the relevant parties, including the European Central Bank – to ensure that this unjust debt is written down. The campaign is supported by debt and development NGOs, community and social justice organisations, trade unions and a number of academic groups.

Deputy Doherty said:

“I want to welcome the setting up of the Anglo-Not Our Debt campaign. This is an important civil society campaign with an impressive range of sponsors in the NGO, community, trade union and academic sectors.

“I strongly support the central aim of the campaign which is for the government to immediately suspend the Anglo Irish Promissory Note repayments and to enter into negotiations with the relevant parties, including the European Central Bank – to ensure that this unjust debt is written down.

“Since early last year I have been raising the issue of the Promissory Note in the Dáil. Sinn Fein has challenged Minister for Finance Michael Noonan at the Finance Committee and in the Dáil chamber on this issue.

“The decision by the Fine Gael Labour Government to continuing this toxic private banking debt is a national scandal. It is one of the biggest scandals of the entire banking crisis.

“It will cost the taxpayer at least €74 billion by 2031 and according to some economists may cost more than €85 billion.

“That the Fianna Fail Green Party Government signed the taxpayer up to this toxic private banking debt will surprise no one. That Fine Gael and Labour continue to support its payment is truly shocking.

“At a time when the government is cutting funding for vital front line services and heaping stealth taxes on low and middle income earners people are asking why is the government giving €3.1bn of taxpayer’s money every year to a dead bank.

“I urge people of all political persuasions and none to support the Anglo-Not Our Debt campaign and to play a role in getting this odious debt off our backs.” ENDS

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