Fine Gael's Noonan says Govt sold out Ireland for an appalling deal

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Statement by Fine Gael Finance Spokesman Michael Noonan

“This is a hugely disappointing result for the country. It’s hard to imagine how this deal could have been much worse. People are right to feel frightened, and worried about the future, when our own Government has sold out the country on such lousy terms.

“The Government was cleaned out in the negotiations and has not acted in the best interests of Ireland. At the very least we could have expected a low rate of interest on the loans, EU agreement on a jobs and growth package, and agreement to share the cost of rescuing the banks with the bond holders. The Government came away with none of these.

“Fianna Fáil has once again sacrificed taxpayers’ interests in order to bail out the banks.

“The interest rate of 5.8% is far too high and verges on the unaffordable. The lack of significant detail on plans to restructure the banks is worrying. A huge chunk of the National Pension Reserve Fund and other domestic funds will be poured into a black hole to recapitalise the banks. This money could have been used to stimulate the economy and provide jobs.

“As a sovereign State and a fully paid-up member of the Eurozone, Ireland could have struck a much better bargain. The fact that the EU and ECB have asked us to bail out foreign bond investors who invested foolishly in our banks, with the pension fund money accumulated with difficulty over many years, should have been used as a powerful bargaining chip. It clearly was not.

“The pushing out of the deadline to reach the 3% deficit target simply reflects a lack of belief in the Government’s growth strategy. Furthermore, Ireland will still have to impose €15 billion worth of cutbacks over the next four years.

“It was a Government Minister who first used a poker analogy to describe these negotiations. Well, the Government has been out-bid and out-negotiated at every turn. For some reason the Government decided to play it soft, and allowed the IMF, the EU and the ECB to win hands down.”
 


newell666

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Great stuff, Michael.
Now, what are you going to do about it?
Fvck all!
That would comply with previous form.
 

Padraigin

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And FG has said absolutely nothing about rejecting the deal.

What utter failure of leadership in an opposition party.
 

oddsox

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And FG has said absolutely nothing about rejecting the deal.

What utter failure of leadership in an opposition party.
What planet are you on,,, Noonan is not at fault here, maFFia has sold out this country,, the party is over and again FG have to clean up the mess,, bet you all domestic valuables will be gone, the pension reserve gone and in 15 years when the this pension will need to be required we'll have to borrow again and what then IMF again.
 

edmundburke

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As a Fine Gael supporter I have to say I can only hope the party promises to renegotiate this deal. Today is perhaps the greatest betrayal in our country's history. I only hope the next government has the guts to do something about it.
 

Holy Cow

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Crap statement from Noonan, he could have at least called FF traitors.

The reality is that FG = Diet FF.
 
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Its totally fecked up FG election campaign. They were going to use the NPRF to create a stimulus program.

FG and Labour need to get out of bed with FF and join SF and attack them head on.
 

j26

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Put your money where your mouth is, Michael.

Oppose the deal.
 

Padraigin

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What planet are you on,,, Noonan is not at fault here, maFFia has sold out this country,, the party is over and again FG have to clean up the mess,, bet you all domestic valuables will be gone, the pension reserve gone and in 15 years when the this pension will need to be required we'll have to borrow again and what then IMF again.

Noonan and FG are as much at fault as FF if they let this killer debt deal go through.

They need to be shouting from the rooftops that this deal will go through over their dead bodies.... and mean it.

They need to be introducing a no confidence vote in the Dail tomorrow while lobbying all night tonight to make sure that they have the votes to do it.

This is serious business.

Sniping from the sidelines without lifting a finger to do anything substantive for the country and its people while they are being destroyed in front of FG's eyes counts as just as much a betrayal as what FF has done.

Get it?
 

eoghanacht

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oddsox

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Fine Gael have some cheek.
Michael Collins sold Ireland a terrible deal back in 1922 didn't he?
Go ************************ yourself,,, 8.5 bl sterling bail out,, back under the queens thumb again,, thanks to maFFia
 

MuchToDo

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I thought Noonan looked depressed to be honest on RTE 6.01.
He probably is. He's had to put up with FF for so long like the rest of us, but don't forget he was leader of FG. The 2002 election must have been truly depressing - clear to him and many others that FF were destroying the country, yet so many people thought they'd never had it so good. Now although we didn't quite expect to see the country being quite so destroyed by FF, I have little doubt that plenty of others expected it all to come crashing down. We've had to listen to crap about soft landings, waffle excusing inflation and wage demands and denying over-heating in the economy (remember that as far back as 2001?) and being told that surely anyone thinking the way we do would commit suicide.

I'm not a member of an opposition party, but it really makes me angry when people say the opposition didn't do enough. The primary thing they needed to do was get FF out of power. How could they do that when people were so happy with FF's irresponsibility?

The opposition were regarded as killjoys for any of the mismanagement they did point out - indeed it is probably that more than anything else that kept them out of power. I remember in 2006 asking someone about Kenny and they explain "oh he's such a whinger, something's always wrong".

It is not only FF who are traitors, it is the people who voted for them, and most particularly those who are still intending to vote for them.
 


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