Burn the bondholders, not the people

Using Pension Fund to bail out banks is ‘act of treachery’

SINN FÉIN TD Martin Ferris has called for the bondholders who possess Irish debt to be told that they will not be paid. He also described the commitment of the National Pension Reserve Fund to the bank bail-out as an act of treachery.
In an interview with Radio Kerry, the Sinn Féin spokesperson on Workers’ Rights was asked what Sinn Féin’s response was to the conditions imposed by the IMF. Ferris said Sinn Féin has opposed the bail-out from the start and was completely opposed to the IMF being brought in.
He pointed out that when Sinn Féin and others had previously suggested using some ofe pension fund as part of a stimulus package to create growth and employment, they had been told that that would be irresponsible and a waste of the reserve!
Deputy Ferris said: “Now Fianna Fáil have committed it to the bail-out where it has effectively been thrown in the same black hole as all the rest of the billions.”
He emphasised that Sinn Féin would not be part of any coalition committed to implementing the IMF deal and the sort of austerity package agreed on by Fianna Fáil, the Greens, Fine Gael and Labour.