Government Has No Authority to Negotiate Bailout

Government Has No Authority to Negotiate Bailout

Sinn Féin’s councillor Jonathan O’Brien has said the government has lost all authority and should call a general election rather than tying the country into an agreement with the IMF and the EU bailout fund which would further damage the economy.

He was speaking in advance of the party’s day of action tomorrow, which will see Sinn Féin activists across the state taking to the streets to protest against the government’s disastrous economic policies and to highlight the party’s march on Leinster House on 4th December. Sinn Féin in Cork will hold a protest at Daunt Square at 1pm.

Cllr O’Brien said:

“Today is a black day in the history of our country. This government has brought down on the heads of the Irish people an economic disaster of unprecedented proportions. Their mismanagement has turned one of the most successful economies in the world into a ward of the IMF and seriously compromised the independence we fought so hard to achieve. They cannot now be trusted to do a deal with the IMF on our behalf. The government has lost all authority and should resign immediately.”

“The intervention of the IMF means a serious loss of control over our economy. Not only does it pose a threat to our 12.5% corporation tax rate, a bailout will mean even more savage cuts to health, education, public service jobs and social welfare as well as tax increases for the lower paid and the fire sale of state assets. All this to bail out the banks with further billions, for which the Irish people will have to pay the price.”

“The tragedy is that this need not have happened. If the Government had burned the bondholders, set up a state bank and pursued a real plan for economic recovery there would be no call for any such bailout. It can still be avoided.

“This government does not have the authority to negotiate a bailout package with the EU and IMF on our behalf. We need an immediate General Election before Fianna Fail and the Greens condemn Ireland to another decade of economic stagnation.”

“Sinn Féin is holding a day of action across the country tomorrow to protest against the government’s destruction of the Irish economy and highlight the reality that there is a better way. In Cork we will be gathering at Daunt Square at 1pm and we invite members of the public to join us.”

For further information or comment contact Cllr Jonathan O’Brien @ 085-2133907