Sinn Féin - On Your Side

AIB plan is selling us what we already own - Pearse Doherty TD

7 March, 2017 - by Pearse Doherty TD

Sinn Féin Finance Spokesperson Pearse Doherty TD has said the reported plan to allow some private investors to buy shares in AIB amounts to selling the Irish people back what they already own. He reiterated his call for the proposed sale to be abandoned saying it was the wrong decision to sell any part of the bank.

Deputy Doherty said:

“The notion of selling what we already own to some people is one that has been tried and failed before. People remember the Eircom disaster for example.

"It is time to stop and ask ‘who benefits?’ from this sale. The bankers keen to drop the €500 thousand salary cap will benefit, the speculators that wouldn’t touch the bank for the last decade will benefit.  It’s clear though that the Irish people will not benefit. 

"They will be short-changed and lose the influence over the banking sector currently enjoyed. Floating the idea that some investors could buy into AIB smacks of a sop to hide the fact that the public will be the big losers here.

"This is a bank the people bailed out with over €20bn of their money. It has only just started paying out a dividend and now the Minister seems gung-ho in trying to sell it.  It should not be sold. Trying to sell us what we already own doesn’t make this idea any better- in fact it just adds to the absurdity.”

Connect with Sinn Féin