Cork Cannot Afford IMF/EU Bailout- O'Brien

Cork Cannot Afford IMF/EU Bailout-O'Brien

Returning to Cork from the official launch of Sinn Fein’s General Election campaign, Cork North Central Candidate Jonathan O Brien said that Cork cannot afford the IMF/EU bailout and Irish people’s hard earned taxes should be put into job creation not the pockets of the already rich bankers of Europe.

Jonathan O Brien said: “Earlier in the week we in Sinn Féin outlined a ten point plan to return Ireland to work. To begin this process, we have to deal with the deficit and the banking debts. The relationship between jobs and the deficit is clear – more people in work produce higher levels of spending activity and tax revenues, as well as lower welfare payments. No job creation plan will work if money is constantly being taken from people’s pockets and the national coffers to fund our zombie banks and to pay off the already rich bankers of Europe – the bond holders”

“The IMF/EU deal is bad for Cork, is bad for Ireland. The cost of servicing the State’s debt by 2014 will have reached €8.7 billion. In four years time we will have to begin to pay off the loan itself, which is €67.5 billion. It is undoable. Establishment parties who argue that we should renegotiate a part of the interest rate are missing the point and being dishonest with the electorate.”

“Sinn Féin will put money back into people’s pockets where it belongs by removing the Universal Social Charge and use the state resources to stimulate immediate and direct employment in key sectors. We will put Cork back to work and get the bondholders – rich European bankers - off our backs.”Ends.

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