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European institutions ‘holding Greece to ransom’ – Doherty

29 June, 2015 - by Pearse Doherty TD


Sinn Féin’s spokesperson on Finance, Pearse Doherty TD, has commended the actions of Syriza in upholding the principles of democracy in the face of increasing pressure from European institutions which are ‘holding Greece to ransom’.

Deputy Doherty said:

“The ECB, IMF and European Commission are holding Greece to ransom by insisting on this blatant brinkmanship. This anti-democratic behaviour reveals the true nature of the EU, far removed from the ideals touted at its inception.  

“This issue is more than just debt. It is about vested interests in the EU. We are not dealing with democracy here, but the politics of power and punishment. Here is a manufactured crisis. We are being shown who is in control.

“The Greek economy has been crippled by the regime of austerity. Annual output is now three quarters of what it was five years ago. Greece is stuck in a downward spiral of cutting growth and raising debt.

“Syriza have been arguing for growth-led measures that will support the rebuilding of the Greek economy and allow it to meet it credit obligations. However, despite significant fiscal adjustments put forward by Syriza, they have been point blank refused by the European institutions.

“The refusal of the Irish government to support Greek debt relief is galling. Fine Gael and Labour are playing parish pump politics with the lives of Greek people and the structures of the EU. Reckless is too kind a word.

“Simply put, the Fine Gael/Labour government does not want Syriza to succeed as it will lead to a lot of red faces at the Cabinet. Syriza are standing up for the people of Greece, not the developers, bankers and investors who are Fine Gael and Labour’s primary concern.

“I welcome the referendum on Sunday as it will give Greek people a mandate to accept or reject an EU deal. It is democracy in action, the practice of which is becoming increasingly rare in Europe.”

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