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Once again its Frankfurt’s way – McDonald

12 June, 2012 - by Mary Lou McDonald TD


Sinn Féin Deputy Leader Mary Lou McDonald TD today criticised the Taoiseach for failing to negotiate a deal on Ireland’s unsustainable banking debt noting that “once again the Government has failed to stand up for Ireland’s interests. Once again it is Frankfurt’s way.”

Deputy McDonald said:

“Last Saturday Spain applied for and was granted what is being referred to as a non- economic Bailout. A Bailout for its toxic banking system for which the citizens will be on the hook. It all seems eerily familiar.

“There seems to have been no crumbs from the table for this state. It appears the Government’s strategy of “wait and see what the Spanish get” is already in tatters.

“It’s fair to conclude that once again the Government has failed to stand up for Ireland’s interests. Once again it is Frankfurt’s way.

“What are the Government’s intentions with regards to the Anglo Promissory Notes? Fine Gael and Labour have already tried to pull the wool over peoples’ eyes but the fact is this banking debt remains. What happened to the Technical paper on the promissory note that was due to be published in February?

“In opposition Fine Gael and Labour promised “Not another red cent for toxic banks” yet in Government the reality has been very different. In 2011 this Government pumped €21.4 billion into the banks and less than €500 million into job creation.

“Has the Government prepared a paper with specific proposals on investment and jobs for the EU Summit at the end of the month? If not, why not? If so then publish it so we can all see what the government wants from Europe?

“The fact remains that this Government has no real strategy to deal with the banking debt or to create jobs. It is staggering from one crisis to the next hoping that another European member state will step in for the Government.” ENDS

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