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Ó Caoláin - McCreevy must end stock market gambling with Pension Fund

23 July, 2003

Sinn Féin Finance spokesperson Caoimhghín Ó Caoláin TD has described as 'appalling' the massive loss by the National Pension Reserve Fund on the international Stock Market. Deputy Ó Caoláin said:

"As a seasoned gambler Minister McCreevy chose to establish the Pension Reserve Fund and sink massive sums in speculation on the international stock market. We see today the appalling result of that gamble. The fund was ill-conceived from the beginning. It should be totally restructured and funds used for infrastructural investment, including transport, health and education services." ENDS

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