THE shape of the bailout deal for Spanish banks is deeply disappointing and reinforces the current eurozone policy that ordinary citizens would ultimately bear the burden of bank losses, according to Fianna Fáil Finance Spokesperson Michael McGrath.
NORTH side councillor Kenneth O’Flynn has launched a blistering attack on IMF recommendations which include the cutting of free travel and medical cards for the over 70s.
“The IMF has recently told the Fine Gael / Labour Government to find savings by scrapping free schemes for the elderly and in particular those schemes which are of most use and support to one of the most vulnerable sectors of our community. “Included in the draconian recommendations are the supports to help older people pay for their electricity and gas, their TV license, free travel and medical card scheme,” said Cllr O’Flynn.
SENATOR John Gilroy has expressed his dismay at the level of engagement by Deputy Richard Boyd-Barrett in terms of the Bretton Woods Agreement legislation which is going through the Houses of the Oireachtas.
“Deputy Richard Boyd Barrett proposed the most extraordinary amendment.
“He called on the government to suspend our membership of the International Monetary Fund.
THE Minister for Finance Michael Noonan must press the President of the ECB Mario Draghi on a timeline for a conclusion to be reached on the negotiations surrounding the debt associated with the recapitalisation of Anglo Irish Bank and Irish Nationwide Building Society (now known as ‘Irish Bank Resolution Corporation’ or IBRC), according to Fianna Fáil Finance Spokesperson Michael McGrath.
“Since 2009, the Irish state has recapitalised Irish banks to the tune of €62.8 billion. Over half of this recapitalisation came directly from exchequer funds and from the National Pension Reserve Fund with the balance coming from a promissory note structure. The promissory note structure provides for the recapitalisation of IBRC by an amount of €30.6 billion.
SINN Fein’s Cork South Central candidate, Chris O Leary, 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.cChris O Leary made his comments on the campaign trail in Mahon, Cork.
Speaking in the wake of the suggestion by the Chairman of Anglo-Irish Bank Alan Dukes that a total of €100 billion may be required to ensure a “clean” banking sector, Cllr Jonathan O’Brien has said it underlines the insanity of the government’s banking policy and the need to revoke the bank guarantee and burn the bondholders.
Cllr O’Brien said, “The government has already poured €46 billion into the banks, with a further €35 committed under the EU/IMF deal. Alan Dukes is now suggesting the total cost of the debacle may reach €100 billion.
CORK South Central Fianna Fáil TD Michael McGrath has welcomed the approval by Dáil Éireann by 81 votes to 75 of the EU / IMF funding arrangement for Ireland.
Deputy McGrath had co-sponsored a motion with Deputy Thomas Byrne at the Fianna Fáil parliamentary party calling for a Dáil vote on the deal.
The party unanimously accepted the motion and it was put to the Dáil for approval today. Deputy McGrath spoke in favour of the motion during today’s debate.