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Government spinning defeat as victory: Doherty

12 February, 2013 - by Pearse Doherty TD

Sinn Féin Finance Spokesperson Pearse Doherty has said that the government is spinning a defeat as victory in tonight’s debate on the promissory notes agreement.

Speaking this evening Deputy Doherty said:

“Last June An Taoiseach Enda Kenny said there had been a ‘seismic shift’ and An Tanaiste Eamon Gilmore said there had been a ‘massive breakthrough’. That shift was the statement of Eurogroup leaders to separate banking and sovereign debt. It is a measure of the failure of the government that today they are spinning the replacement of the promissory notes with sovereign bonds as a victory.

“In the space of a few months we have gone from a ‘seismic shift’ to more of the same old failed policies burdening the Irish taxpayer with banking debt.

“The government’s claim that they had no choices doesn’t hold water. They could have and should have argued for the Eurogroup to follow through on its commitment on separating banking and sovereign debt. They should have made clear that they would not pay one more cent of the Anglo debt.

“The government should have pushed this issue to a conclusion by insisting on a separation of banking and sovereign debt and refusing to pay one cent more of the promissory notes.
Instead we got Frankfurt’s Way.

“In fact I doubt Frankfurt thought it would succeed in such a comprehensive way. They could only have dreamed that the Irish State would voluntarily latch the most toxic of its banking debt to itself. Frankfurt has got its way and Frankfurt knows the Irish people are now committed more than ever before to repaying every cent of the Anglo-Irish mess.”


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