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Adams challenges Taoiseach on “insurance policy” comments

23 April, 2012 - by Gerry Adams

Speaking in Drogheda this evening the Sinn Féin president Gerry Adams TD challenged the Taoiseach’s claim that a yes vote for the Austerity Treaty was like an “insurance policy.”

Mr Adams said:

“This is not true. Ireland’s position as a member of the Eurozone is secure no matter what position we take on the Austerity Treaty. If Irish citizens reject the treaty the state will not be excluded from future help from the European Stability Mechanism.

“This is an empty threat which has been referred to as a blackmail clause. This clause is not an article of the ESM treaty. It is part of the preamble and therefore does not have any legal standing, particularly if it is in conflict with the primary mandate of the ESM as outlined in article 136 of the EU treaty.

“This clearly states that no member state can be denied funding if this would threaten the stability of the Eurozone as a whole. The Taoiseach knows this.”

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