Monday, March 14, 2011

Government Should Put Bailout Deal to the People-O'Brien

Government Should Put Bailout Deal to the People – O’Brien

Sinn Féin TD Jonathan O’Brien has reiterated his party’s call for the bailout deal with the EU/IMF to be put to the people in a referendum. Deputy O’Brien said: “Fine Gael and Labour have pledged to renegotiate the terms of the bailout deal with the EU/IMF. It is vital that any negotiation results in real changes, not just cosmetic tinkering with the small print.” “Ireland simply cannot afford the cost of the bank bailout or the penal interest rate which the EU is charging. Already there are indications that the latest “stress tests” on the banks may see the cost of the bailout rise still further. It is time to stop throwing money into an ever-deepening black hole.” “We need to make the bondholders take their losses.

This is the message that Enda Kenny should be taking to Brussels.” “Instead, it appears the government will be pressed to accept a Common Consolidated Corporate Tax Base or changes to our 12.5% rate of Corporation Tax in return for minor concessions on the interest rate. Sinn Féin predicted during the referendum on the Lisbon Treaty that its passage would lead to further pressure to harmonise tax rates across Europe and this has proven to be the case.”

“Sinn Féin believes the new government should immediately put the bailout deal with the EU/IMF to a referendum. This has the potential to strengthen their hand in negotiations, by showing that the Irish people regard the terms of the deal as unacceptable.” For further information or comment contact Deputy Jonathan O’Brien @ 085-2133907.

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