FIRST time Fianna Fáil general election candidate, Cllr Barry Cowen has slammed the ‘irresponsible scaremongering’ by those who claim Irish sovereignty has been compromised by the Government’s IMF-EU bail out.
Cllr Cowen stated, “The Government agreed an Assistance Fund with our EU partners and the IMF. This agreement ensures that Ireland will have access to funds to maintain key public services including social welfare, the health service, and the education system. This is money that we would have had to borrow in any case - this deal provides it at a lower cost than is available currently on the market.
“To say Irish sovereignty has been compromised is irresponsible scaremongering. As members of the European Union, and especially of the Eurozone, our decision making in many vital areas of economic interest has been shared since the beginning.
“Those who make this irresponsible charge need to explain, ‘Where do they propose to get the funding to pay for state services if they were to refuse the EU-IMF loan?’
“To put it in context, if we did not have access to this funding we would have to enforce immediate cuts in pay and social welfare of 38% in order to balance the books.”