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Sinn Féin’s position on the IMF/EU Bailout gathering support – Ferris

12 February, 2011 - by Martin Ferris TD

Sinn Féin TD and candidate for the North Kerry and West Limerick constituency Martin Ferris has said that there is a growing consensus among national and international experts around Sinn Féin’s position on the IMF/EU bailout and the need to remove private banking debt from the shoulders of the Irish people. Deputy Ferris made his comments on a canvass in Tralee this morning with Joint First Minister Martin McGuinness.

Deputy Ferris said:

“It is now quite clear that the position Sinn Féin has adopted on the IMF/EU bailout, on the need to separate private debt from national debt is being supported by a broad spectrum of economic and political commentators.

“On Wednesday night’s Prime Time debate which included Sinn Féin’s finance spokesperson Pearse Doherty; economists like Peter Matthews and Constantine Gurdiev all shared Sinn Féin’s position on what the IMF/EU deal will mean for the future of this country. If we do not now deal with the need to separate the debt of private bondholders, who took a risk by investing in private banks, with our own sovereign debt then we are headed towards a sovereign default.

“The question the other parties, who are all willing to accept the IMF deal, must answer is what is in the interests of the Irish people; making bondholders take the hit, or a sovereign default which would be catastrophic for Ireland and would destabilise the entire Euro zone.

“It is time for the parties to be honest with the people regarding the IMF deal and what it will really mean for the people and stop pretending that they will get anything meaningful from a renegotiation.” ENDS

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