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Vote Ní Riada to stop vulture funds – Donnchadh Ó Laoghaire TD

21 May, 2019 - by Donnchadh Ó Laoghaire TD

In advance of the European elections taking place on May 24th Sinn Féin Cork South Central TD Donnchadh Ó Laoghaire has called on people to stop vulture funds by voting Liadh Ní Riada on the 24th of May.

Teachta Ó Laoghaire said:

“The work Liadh has done with fellow Sinn Féin MEP Matt Carthy who sits on the Economic and Monetary Affairs Committee has been to ensure that vulture funds are held accountable and that banks are not able to operate with impunity."

The Cork TD added that stopping an EU directive on non-performing loans which promotes vulture funds, exacerbating the current housing crisis, will be top of Sinn Féin's agenda in the next European Parliament. The directive is being supported by Fine Gael and Fianna Fáil’s EU political groups.

“Earlier this month, Ulster Bank announced it would be flogging more mortgages belonging to Irish families, ripping their homes from under them and handing them to faceless vulture funds.

“We all know about the vultures – secretive international investors hovering over the Irish economy, seeking out families in mortgage distress, and then doing whatever they see fit to turn a quick profit. If this means turfing a family out on to the street, so be it.

“This is being gleefully championed by the European Commission and the Irish Government, led by Fine Gael and backed by Fianna Fáil, who are rolling out the red carpet for Vultures, allowing them to target Irish families and letting them avoid taxes for the pleasure of more profit margins.

"Across Ireland, communities are demanding a fundamental step-change in the EU’s and the government’s approach to the banks and vultures – and for emergency measures to be implemented that will tackle the housing and homelessness crisis immediately and effectively.

“Sinn Féin is standing with these communities and campaigning for policies that will benefit the people and not the banks and vultures at the local, state and EU level.

“This makes the return of the strongest team of Sinn Féin MEPs to the European Parliament all the more important for the Irish people and so I call on everyone to vote Liadh Ní Riada No.1 for Europe.”

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