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The Taoiseach has surprised the Dáil by stating that the banks were not bailed out, when they were awarded 64 billion euros in borrowed state liquidity that will take generations to repay.
icheál Martin briefly told Richard Boyd Barrett TD: “The banks were not bailed out.”
A surprised Mr. Boyd Barrett, Dun Laoghaire’s Solidarity People Before Profit TD, replied, “They were.”
The extraordinary rescue of the entire financial sector since 2008 has burdened all working adults in this country with a debt of 32,000 euros per inhabitant.
The Taoiseach continued: “The shareholders of the banks were not bailed out. The State took the equity ”.
The exchange stemmed from the Opposition’s claims that a government offer of € 3 million to retrain the sacked Debenhams workers was an insult.
“The government’s failure to guarantee justice for these workers is appalling,” said Boyd Barrett.
“I remind the Taoiseach who said he couldn’t put money on the table because it would set a precedent. The sum of 18 million euros is owed by Debenhams to the State. The Taoiseach did not mind setting a precedent when it came to rescuing banks to the tune of 64 billion euros. “
The Taoiseach interrupted to say that MP Boyd Barrett was “acting like a populist.”
He said, “It makes me sick the way Deputy Boyd Barrett takes people uphill all the time, pretending there are simple, straightforward solutions.”
The Taoiseach then stated: “I will speak with Rep. Boyd Barrett about banks. The banks were not rescued. “
Mr. Martin then tried to clarify: “The shareholders were not bailed out. That is not a popular thing to say, but it is a fact.
“Rep. Boyd Barrett never wants to hear the facts because he lives in a fantasy economic wonderland. If his party came to power, thousands of jobs would migrate from this country. Thats the reality “.
Boyd Barrett said there had been no “moral hazard” and there was no concern about the implications of giving billions to banks a decade ago, “but when it comes to workers who have worked for decades, they have done nothing wrong. and that they are titled, we cannot sign them in. We cannot guarantee to give them what they deserve, which is what even now the government should do, and then should go after Debenhams.
“The Government stands idly by while the workers, who are the most decent people imaginable, and who have worked for this company, are cruelly betrayed. He’s saying there is nothing he can do. “
Mr. Martin said, “I said we would do everything we could within the law.”
It was the last day for the Taoiseach in the Dáil, and he paid tribute to the Ceann Comhairle, ushers and staff, wishing them a Merry Christmas. Tánaiste Leo Varadkar replaces the Taoiseach on a Thursday, and the House will rise tomorrow for the Christmas holidays.
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