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Sinn Féin call on Tánaiste to publish IMF/EU Programme Memorandum of Understanding

21 April, 2011 - by Mary Lou McDonald TD

Speaking in the Dáil today Sinn Féin Deputy Leader Mary Lou McDonald TD called on the government to publish the revised EU/IMF Programme Memorandum of Understanding and to clarify if the Government intends to use any of the proceeds from the sale of State pay off bank and bondholder debt.

Deputy McDonald said:

“Members of the Dáil have been promised a debate after the Easter recess on the revised IMF/EU Programme Memorandum of Understanding. Of course, the revised Memorandum has not been published. In fact, although it is being discussed in Washington, Frankfurt and God knows where else, Members of this House have not had sight of it. Instead we have been drip-fed elements of the discussions the Government has had with the troika.

“From comments made by the Minister for Public Expenditure and Reform Brendan Howlin this morning, it is clear one of those conversations has been about the disposal of State assets. Judging by the Minister Howlin’s comments, it is clear the Government is now prepared to go down the cul-de-sac of selling off State assets in a bid to pay bank and bondholder debts. Is the Government in the course of yet another U-turn, whereby the proceeds of the privatisation programme will not find their way into stimulus and investment in jobs but will, in accordance with the views of the IMF and EU, be used for debt write down?

“When will the revised memorandum of understanding be published? Will Members of this House see it in advance of the debate next week? Can the Tánaiste give any assurance, as Labour Party Leader, that his party has not bought wholesale into the Fine Gael-led agenda of flogging the family silver to bail out the very wealthy?” ENDS

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