Banks crisis: No difference between Fine Gael/Labour and Fianna Fáil

Banks crisis: Fine Gael/Labour v Fianna Fáil = No difference

THERE is no difference between the Fine Gael/Labour and Fianna Fáil approaches to the banks crisis and the new government are little more than “agents for the IMF in Ireland”, Sinn Féin leader Gerry Adams TD said in Drogheda today.

The Louth TD said that yesterday’s announcement by Finance Minister Michael Noonan following the results of the bank stress tests makes it quite clear who is dictating the agenda and who is pulling this Government’s strings:

A political decision has been made to inject a further €24 billion into a defunct banking system without any attempt to go after senior bondholders.

The Government is continuing to pursue Fianna Fáil’s failed policies on the banks and they are now acting as little more than agents for the IMF in Ireland.

Fine Gael and the Labour Party both campaigned for a mandate not to inject any more money into these banks. They said that bondholders and speculators would take the hit. They said they would renegotiate the EU/IMF deal.

We now see, very clearly, that there is no difference between the Fine Gael/Labour approach and that of the previous Fianna Fáil/Green Government.

The Sinn Féin leader added:

Rather than go after over €20billion in unguaranteed bonds, the Government is making ordinary citizens bear the burden of this debt. Rather than act in the interests of the Irish people they are acting in the interest of the banks.