Wednesday, November 16, 2011

Council Backs Sinn Féin Motion on Bank Handover-O'Leary

Council Backs Sinn Féin Motion on Bank Handover-O'Leary

Cork City Council last night backed a Sinn Féin motion calling on the government not to hand over a further €1.25 billion in taxpayer’s money to unsecured bondholders in Anglo-Irish Bank in January.

Cllr Chris O’Leary said:

“I welcome the council’s support for this motion and its call on the government to cease handing over huge tranches of taxpayers’ money to unsecured, unguaranteed bondholders at the defunct Anglo-Irish bank.”

“Two weeks ago €700 million was handed over to another group of bondholders, and a series of further payments are scheduled for the next two months.”

“This is at a time when taxpayers and low-income families are being prepared for a budget that will impose nearly €4 billion in cuts.”

“The money which is currently being handed over to bondholders at Anglo would be far better used to invest in the country’s infrastructure or in a household stimulus package to help get the economy moving and create jobs.”

For further information or comment contact Cllr Chris O’Leary @ 087-2794307

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