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Raft of vulture sales shows a complicit government - David Cullinane TD

13 August, 2018 - by David Cullinane TD

Sinn Féin TD David Cullinane has said that the latest sale of a loan book by a domestic bank - Ulster Bank - shows that in reality the government is complicit in the strategy.  

The Minister for Finance and government have chosen a “banks first” policy to the detriment of the Irish people.

Deputy Cullinane said:

“After Permanent TSB and KBC, Ulster Bank are now joining the summer sale of loans and of rights. The fact that bank after bank can make this announcement during the Dáil recess shows they have the implicit acceptance of government.

"A 'banks first' policy has been adopted by Minister Donohue in-line with his predecessor’s infamous support for the banks above all others.

"While Ulster Bank say no performing loans are included this does not exclude the possibility that mortgages meeting their restructuring arrangement are included- this must be clarified immediately.

"This is a political issue- it is about the type of economy we are building, one for the people or one for the vultures.

"I am reiterating Sinn Féin’s call for the Finance Committee to meet to discuss these sales.

"Without political direction this Summer will be remembered as the Summer of the Vultures. The banks first policy of Fine Gael is reckless and show they have learned very little.”

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