Time for bailout critics to ‘pull on the green jersey’
He said an agreement with the EU on a reduced interest rate on part of the €85 billion bailout was a “huge step forward for the country” and critics should get behind the Government’s effort.
Sinn Féin’s Pearse Doherty said the agreement does not go far enough and “would only reduce the debt by less than 1% over the next three years”.
He said it must be matched by an effort to burn bond-holders in some of the bailed-out banks.
Richard Boyd Barrett of People Before Profit criticised the Government for its “misplaced triumph” and said the latest agreement would be “another false dawn”.
The Dún Laoighaire TD said the deal will fail because it is based on the “shock therapy” of more austerity and savage cuts.
“As the EU continues to enforce austerity, privatisation and neo-liberal economic policies, the suffering of ordinary people will continue and the economic crisis will continue to worsen,” he said.
But Mr Gilmore said that while the deal will not bring about “overnight recovery” it is a positive development for the country.
“It’s time for some of those naysayers to get behind the effort that the Government is making to incrementally change the terms of the agreement, to pull on the green jersey and to work collectively on behalf of this country,” he said.
Finance Minister Michael Noonan said the deal was an “excellent result” for Ireland while Minister for Public Expenditure Brendan Howlin said it was “a very good day”.
The agreement requires Ireland to “engage constructively” in discussions with EU partners on proposals to introduce a common consolidated corporate tax base.
But Mr Noonan said this does not mean Ireland’s low corporate tax rate is under threat.
He said there was a “big risk” in Ireland refusing to engage with the EU on the matter. “If Ireland opts out, other countries could go ahead without them,” he said.
CONNECT WITH US TODAY
Be the first to know the latest news and updates
