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Doherty welcomes Cypriot rejection of flawed bailout deal

19 March, 2013 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty has welcomed the vote of the Cyprus parliament to overwhelmingly reject Troika’s bailout deal which included a levy on bank deposits.

Speaking this evening Deputy Doherty said the Troika has pushed the people of Cyprus too far and urged them to return to the negotiating table to hammer out a deal that is fair.

He said;

“The proposal to impose a levy on the deposits in Cypriot banks was preposterous and should never have been on the table.  The Troika pushed the people of Cyprus too far and their parliament has rightly rejected this deal tonight.  I welcome that decision.

“That Enda Kenny and Michael Noonan were behind this deal shows a level of incompetence that is hard to comprehend.  The proposal to levy bank deposits made a mockery of last year’s deal to separate sovereign debt and banking debt.  Our government’s support for this deal has undermined their own argument for retrospective recapitalisation of banks.

“It is important now that the Troika accepts the democratic decision of the Cypriot Parliament, returns to the negotiating table and hammers out a deal that is fair for the people of Cyprus.”


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