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Troika not opposed to use of NPRF for job creation

16 January, 2012 - by Pearse Doherty TD

Speaking after a Sinn Féin meeting with representatives of the European Commission, European Central Bank and IMF today, Sinn Féin’s finance spokesperson, Pearse Doherty TD said:

“The Troika told us they have no objection in principle to using the National Pension Reserve Fund for job creation. We were left with the impression that the government is not actively pursuing this option as part of the Troika review.”

Sinn Féin put on record strong opposition to austerity and said that there is a need for a new direction. The delegation also challenged the Troika on the payment of unguaranteed bonds and the massive cost to the Irish state of the promissory note.

“We put forward our proposals for economic recovery, including our job creation programme using the National Pension Reserve Fund, as a first step back to growth.

“The representatives of the Troika did not express any objection to that option,” he said.

“We also discussed the issues of water charges, property taxes and privatisation of the ESB and An Bord Gáis. Again the Troika made clear that they were not wedded to any particular option so long as the overall programme targets were met.

“Despite claims by government that there is no room for manoeuvre within the memorandum of understanding, it is clear from today’s meeting that considerable choices are available. The problem is that the government chooses not to negotiate for real change,” he added.

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