Tanaiste refuses to repudiate Creighton assertion that Government will commit €11 billion to ESM, even if a No vote on treaty prevents Irish access – as government claims
ULA TD says Government position on ESM bizarre
In a statement, Richard Boyd Barrett TD, People Before Profit/United Left Alliance TD has described recent response’s by the Minister of European Affairs and the Tanaiste on the ESM Treaty as “utterly bizarre.” He also said that the government are deceiving the public in failing to acknowledge that ratifying the ESM treaty, as the government plan to do following the Fiscal treaty referendum, involves Ireland committing up to €11 billion to the fund.
At leaders questions today in response to Deputy Boyd Barrett, Tanaiste Eamon Gilmore refused to repudiate the claim made in the Dail yesterday by European Affairs Minister, Lucinda Creighton, that Ireland would press ahead with ratification of the ESM treaty even if the Irish people rejected the Fiscal treaty in the forthcoming referendum.
Deputy Boyd Barrett pointed out that if this was the government’s stance on the issue it would mean Ireland committing up to €11 billion to a fund that the government say we cannot access if Ireland vote’s NO to the Fiscal treaty.
*N.B. The European Stability Mechanism Bill 2012 which the government plans to pass through the Dail and ratify after the Fiscal Treaty referendum states clearly on Pg. 4 Point 3:
“There may be paid out of the central fund or the growing produce of that fund, sums aggregating to a sum not exceeding €11,145,400,000 to enable the state to make payments in respect of its contribution to the unauthorised capital stock of the ESM in accordance with the treaty.”
Richard Boyd Barrett said: “The position articulated by Minister Creighton in the Dail yesterday is utterly bizarre and it is even more bizarre that when I asked the Tainiste about this today he failed to repudiate or clarify his junior Minister’s comments.
It simply defies belief that the government intend to press ahead with committing Ireland to fork out up to €11 billion to a fund they say we won’t be able to access, in the event of a NO vote. This really is taking the ‘best boy in the European class’ routine to ridiculous lengths.
The government are also engaging in spin and deceit when it comes to the potential cost to the Irish public of signing up to the ESM. It states in black and white on page four of the ESM bill that we are committing to pay out up to €11 billion. Yet, Tainiste Gilmore refused to acknowledge that fact during leaders questions today.
Given the growing banking crisis now unfolding in Spain, it is also very likely that the ESM would call on the full €11 billion over the coming years. Our country is already crucified with cuts and debt. How on earth could the country sustain forking out another €11 billion on top of the planned cuts of €8.6 billion over the next three years?
If this really is the government’s position on the ESM – it is utter madness. At the very least they need to be up front and tell the public the truth.”