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Our grandchildren will be shackled with this debt: Stanley

14 February, 2013 - by Brian Stanley TD

Sinn Féin spokesperson on Environment, Community and Local Government, Brian Stanley TD, has today said: “Thousands more of our children and grandchildren will now be shackled by this debt. And astonishingly this government call this victory.”
Speaking during the Dáil debate on the government’s Promissory Note Arrangement, Stanley said: “Government ministers might swagger through the corridors of power back-slapping each other on a job well done, but the truth is, you have failed and failed utterly to lift the burden of debt off the shoulders of the Irish people. This government is spinning a defeat as victory in every debate on the promissory notes agreement.
“Sinn Féin’s position on the Promissory Notes and Anglo-Irish’s toxic debts is very clear. We don’t believe this state should pay a cent of that debt. This is a legitimate position and a logical one. It was without doubt a realistic one before the government’s cave-in last week.
“But you need courage to stand up for the people of Ireland to make that happen. At least with the courage of a decent government you could have negotiated a write down on the promissory note. But unfortunately for the citizens of Ireland this coalition does not have two cents of courage to rub together.
“But what this government has done is turned a private debt into a sovereign bond and then proceeded to nail it to the back of the people and stood back, expecting applause.
There should have been a full and open debate on this so called deal. Instead we got more of the Fianna Fáil style, emergency legislation rushed through in the dark of night to bail out the cronies of capitalism. The process is complete. Fine Gael and the Labour Party have morphed into Fianna Fail.”

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