The government has failed the Irish people on retrospective bank deal: Doherty

Sinn Féin Finance Spokesperson Pearse Doherty TD has said the government has failed the Irish people by admitting defeat on the possibility of a retrospective bank deal.

Deputy Doherty was speaking after the Taoiseach was reported to have admitted there would be no retrospective recapitalisation of the pillar banks through the ESM.

He said;

“For two and a half years this government insisted on claiming there was a possibility of the Irish people having the monies pumped into the pillar banks refunded. Sinn Féin has questioned the likelihood of this happening on many occasions given the government’s failure to capitalise on the original commitment.

“In October of this year I tabled an amendment to the ESM (Amendment) Bill which would simply have committed the government to applying for a retrospective recapitalisation. The government voted down this amendment despite their insistence then and since that they would apply and it was just a matter of timing.

“Despite their spin, the truth is that this government dramatically failed to take advantage of the June 2012 commitment and have allowed the opportunity to slip away from them. This was clearer during the summer when our MEP Matt Carthy asked the ESM directly about the possibility of retroactive recapitalisation he was told it was extremely unlikely yet in the Dáil time after time we were led to believe there was a possibility.

“Time after time Government Ministers and spokespeople misled the Irish people by pretending they were actively pursuing this option. The cat is now out of the bag and it is patently clear that they have, once again, failed the Irish people.”

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