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Fantasy economics solely the preserve of the Taoiseach – Doherty

3 November, 2015 - by Pearse Doherty TD


Sinn Féin spokesperson on Finance, Pearse Doherty TD, has grilled the Taoiseach on claims he has made in relation to information he received from the Head of the Central bank in 2012, that the deployment of the army may have been necessary, as well as the implementation of capital controls.

Speaking during Leaders Questions' today, Deputy Doherty said:

“Taoiseach, on three separate occasions now, you have claimed your Government was on the brink of deploying troops onto our streets and introducing capital controls.

You told a Fine Gael fundraiser that the Head of the Central Bank came to you on a Wednesday and told you it may be time to deploy the army, and that you had 48 hours to do so.

“On 20th October you told the Dáil a similar story. On 22nd October you repeated this tall tale to a meeting of the European People’s Party (EPP) in Madrid.

“Taoiseach, we all know that there were contingency plans in place - the Banking Inquiry has heard from the former Secretary General that plans had been developed before your time in office. But you are claiming something very different.

“Both inside and outside this chamber, you have claimed that in the estimation of the Central Bank Governor, a moment had come when he thought it necessary to suggest to you as Taoiseach to put those plans into action and you give the impression that somehow within 48 hours you thwarted disaster and saved us all from catastrophe.

“Now, before we start erecting statues to your glory Taoiseach, can you finally clarify this matter for the Dáil and for citizens? The question is very clear – did Professor Honohan say to you on a Wednesday that you need to deploy the army on Friday and introduce capital controls?

“I sit on the Banking Inquiry. This state has spent close to about five million euro getting to the guts of the reasons behind what happened in relation to the crash and also to reflect on the responses in the aftermath of what happened. It is crucially important that you clarify the situation.

“Were we within 48 hours, as you claim, of seeing the breakup of the Euro and introducing a new currency in this state? Did Patrick Honohan say to you that he believed the Euro was about to break up or was this another fantasy of Enda Kenny’s?”

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