Search

03 Jul 2022

‘Scaremongering’ on IMF-EU slammed

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.

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.”

To continue reading this article for FREE,
please kindly register and/or log in.


Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.