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Adams: Govt overselling Summit deal

Friday, June 29 14:15:58

Sinn Fein president Gerry Adams has accused the Government of "overselling" last night's European Council agreement.

"Sinn Fein welcomes any increase in investment in job creation and reduction in the cost of the State's debt burden. Cuirfidh Sinn Fein failte roimh aon athru suntasach a thiocfaidh amach as seo. Before the European Council summit this week Sinn Fein recommended to the Taoiseach that he replace his policy of austerity and bank bailouts with a strategy of investment, debt write-downs and market return," he said.

"Minister for Foreign Affairs Eamon Gilmore described this morning's agreement as a 'game changer'. He said it would lift the bank debt burden from Irish taxpayers and that the deal was retrospective and would be applied to the Irish recapitalisations. Ta an rialtas ag cur in iul go bhfuil eacht deanta acu areir leis an comhaontu Comhairle Eorpach. Nil na sonrai ar fad again go foill. However this is not what this morning's European Council statement says. It appears that the Government is over selling the implications of the agreement for Ireland. It is clear that the Spanish and Italian governments have secured some movement from the German government and that this may have some positive implications for this state. However the detail of this has yet to be agreed. It is also clear that the agreement reached last night on the growth agenda is also being over sold. There is only E10 billion of new investment by the EU. Austerity remains a key pillar of the EU's approach to the crisis. Yet the EU continues to pour billions of into the banks. It is clear that the European Council is still not serious about growth."