EU forcing bailout on State

Sinn Féin has challenged Fianna Fáil, Fine Gael and Labour to outline how they believe the State can afford to pay back the €67 billion EU/IMF rescue package.

Party vice-president Mary Lou McDonald said the State was pushed into accepting the Lisbon treaty, which despite assurances, had put Irish corporation tax rates at risk, and that being forced into drawing down the bailout could potentially be disastrous.

“It would be tragic if we stepped into the same trap with EU/IMF bailout,” she said.

Ms McDonald, who is running in the Dublin Central constituency, said Sinn Féin was the only party in the Dáil that said the Lisbon treaty was a bad deal and the party was now being proven right after recent suggestions about implementing harmonised EU tax rates.

“When Lisbon was negotiated we said they’d signed the State up to a very bad deal. I think the chickens have come home to roost on that matter, not least with the kind of pressure that our right to set our own corporation tax rates is now at."

She said the mantra was at the time was that people should "vote yes for jobs" and "vote yes for recovery", but this was far from the case.

Source and full story: Irish Times, February 7th 2011