The Taoiseach yesterday formally admitted in the Dáil that the government has completely and abjectly surrendered to the EU/ECB/ IMF troika in relation to the terms and conditions of the misnamed bailout. "This is just one one example" said Malachy Steenson, Workers' Party representative in Dublin Central "of the solemn promises made to the Irish people by this coalition on the campaign trail evaporating before they have their seats warm at the cabinet table".
"Since last December" stated Mr Steenson "all the opposition parties and groups had correctly berated the Fianna Fáil / Green Party coalition for the humiliating and punitive terms on which they had accepted loans from the Troika. This deal, as is patently obvious to all, was largely designed to protect the Euro zone from colapse and to protect the big European banks that were exposed to the Irish banking crisis and yet the complete and onerous burden of repaying this loan package was placed on the backs of the Irish people".
"Before and during the recent General Election both FG and Labour were to the forefront in promising to re-negotiate this odious deal. Undoubtedly they received many votes from people who believed that we had been unfairly treated by our so-called European partners and who further believed that a change of government would help to redraw that agreement and redress that balance. Now we know the reality. The new coalition has completely, totally and abjectly surrendered to the EU/ECB/IMF overlords. Our ministers are still going, like a group of beaten pups, begging for a reduction in the interest rate but they no longer even bother to try and re-negotiate the substantive deal."
"To add insult to injury our government is now supporting Christine Lagarde, French Minister of Economic Affairs, Finances and Industry as the new head of the IMF. This woman, along with her boss President Nicolas Sarkozy, has been to the forefront in blocking any re-negotiation of the Irish repayment terms. This is nothing short of a national humiliation" concluded Mr Steenson.
Issued: Thursday 26th May 2011