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Sinn Féin ‘right on burning bondholders’ – Adams

28 January, 2016 - by Gerry Adams TD


Sinn Féin President Gerry Adams TD has said the party’s consistent position of imposing losses on senior bondholders following the banking collapse is borne out in evidence to the Banking Inquiry.

Teachta Adams said it was further evidence that the Government’s policies were wrong and detrimental to Irish citizens and that Sinn Féin’s policies were correct.

The Louth TD said:

“The National Treasury Management Agency (NTMA) told the Government in March 2011 that €9 billion of the people's money would be saved by imposing losses on senior debt holders at Irish banks.

“Written evidence to the banking inquiry shows the NTMA advised the Government that this should be done but this was ignored by they were ignored.

“The position taken by the NTMA mirrors what Sinn Féin called for at the time, but Fine Gael and Labour rubbished our proposals, calling us ‘economic illiterates’.

“It’s clear now who the economic illiterates are. The policies of Fine Gael and Labour were wrong in 2011 and they are wrong now.

“Unlike Fine Gael, Labour and Fianna Fáil, Sinn Féin in Government will always put the interests of citizens and families before those of banks and speculators.” 

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