Eamon Gilmore missing the point on EU/IMF deal, says Pearse Doherty

LABOUR PARTY Eamon Gilmore leader is missing the point on the EU/IMF deal, Sinn Féin Economy spokesperson Pearse Doherty TD has said.

If the new government does not allow for the bondholders in banks such as Anglo Irish Bank to be burned then they will simply be continuing on the same road to economic ruin as the current government.

Pearse Doherty said the fact is that Ireland cannot afford this loan.

It is a loan that includes billions of euros to pay off bondholders in banks such as Anglo Irish Bank.

The only reasonable option for any political party that seeks power in this state to take is to burn these bondholders and refuse the EU/IMF loan.

We must then reverse the disastrous decisions taken by this government, set the economy on a new, progressive trajectory and by separating private banking debt from sovereign debt return to the bond markets at the earliest opportunity.