FF has ‘created market turmoil’

THE inconsistent antics of Fianna Fáil at its Ardilaun Hotel think-in have been criticised by Labour Party leader Eamon Gilmore for confusing the public and the international markets.

Mr Gilmore said he would not take a shot at Taoiseach Brian Cowen’s personal performance on RTÉ radio this week, which generated worldwide headlines after the Fianna Fáil leader was forced to deny being drunk or hungover. However, Mr Gilmore said the interview was “confused” and the latest in a long line of poor media messages the Taoiseach has given to the global investors. “I think there is a sense in the international community now that not only does Ireland have zombie banks but we also have a zombie government and that the sooner we get it out of government, the better.

“The problem that we have here in Ireland now is that we have Brian Cowen, Brian Lenihan and a Fianna Fáil Government who are serving out their time, serving out their notice. I think that is bad for the country and that’s what’s contributing to the difficulties we are having,” he said. Mr Gilmore was speaking at the Abbey Hotel in Roscommon where his own parliamentary party, and other election hopefuls, gathered for a pre-Dáil think-in.

The Labour leader said he took particular exception to the message put out by Finance Minister Brian Lenihan and Mr Cowen that this year’s budget could take as much as €4 billion out of the economy. Mr Gilmore said people needed clarity and consistency ahead of the budget.

“I think Brian Lenihan was wrong to do that... I think more than anything else at the moment we need certainty and we need stability,” he said.

Mr Gilmore said the Cabinet’s failure to remain fixed at the €3bn figure flew in the face of political consensus which the Government should be selling to the markets. “The Government some time ago outlined a strategy... for getting the public finances in order. The Labour Party has said ‘yes’, we will accept that strategy... Part of that was that there would be a €3bn adjustment this year. I think Brian Lenihan creating doubt is adding to the instability and uncertainty that is there around the public finances.

“We have agreed a strategy... We should stick to that strategy,” he said. Mr Gilmore said his party would produce its budgetary polices in advance of the December speech.

But he said so far the Government has refused to listen to the suggestions from across the aisles.

“If Brian Cowen wants evidence of Labour Party policy he should have been listening to us on the banks... When we refused to back his guarantee, when we raised the questions about Anglo, when we put forward proposals for the recovery of the banking system they dismissed those too,” he said.