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Pat “The Cope” Gallagher must explain why he voted against amendment for retrospective recapitalisation of Irish banks – Carthy

13 March, 2014 - by Matt Carthy MEP

The Sinn Féin Midlands Northwest MEP candidate, Matt Carthy, has said that it is scandalous that Fianna Fáil MEP Pat “The Cope” Gallagher voted against an amendment tabled by Sinn Féin MEP Martina Anderson to support the retrospective recapitalisation of the Irish banks by way of the European Solidarity Mechanism (ESM). 

He called on Gallagher to explain why he voted against the amendment.

Speaking following a vote in the EU parliament on the Sinn Féin amendment, Matt Carthy said: 

“It is appalling that any Irish MEP would consider voting down an amendment to retrospectively recapitalise the Irish banks by way of the European Solidarity Mechanism (ESM). It is scandalous that Pat “The Cope” Gallagher and Fianna Fáil have turned their backs on the Irish people by voting down this amendment. This was a real opportunity for all Irish MEPs and indeed all MEPs to send a clear message – that the parliament and their political groups support the use of the ESM to recapitalise Ireland’s banking debt.   .

“In June 2012 the Eurogroup agreed that the possibility existed for the retrospective recapitalisation of Irish banking debt through the ESM. Taoiseach Enda Kenny called it a ‘seismic shift’ and Tánaiste Eamon Gilmore called it a ‘game-changer.’ 

“Since then nothing has happened. The head of the ESM itself has cast doubt on the possibility, as has the German Finance Minister.

“Yesterday the European Parliament discussed a report on the role of the Troika in Ireland and other countries. The report states that it ‘takes note’ of Irish demands for retrospective recapitalisation. That is not good enough 20 months after the Eurogroup decision. Sinn Féin and our MEP Martina Anderson have been pushing for unambiguous support from the EU Parliament and from all political groups.

“Sinn Fein has been pushing the Taoiseach to make good on the potential of retrospective recapitalisation. We need all elected representatives in the Dáil and in the European Parliament fighting for a fair deal for the Irish people. I think that the people of the Midlands North West Constituency will be very disappointed at the decision of Pat “The Cope” Gallagher not to stand up for the interests of the Irish people on this most important of issues.  

“He needs to give the people of this constituency an explanation as to why he voted against this important amendment.”

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