AS THE whole of Europe focuses on the Irish-style financial crisis engulfing Portugal, Donegal South West TD Pearse Doherty claimed today the decision by Taoiseach Enda Kenny to postpone talks about Ireland’s problems was a massive mistake
The Sinn Féin finance spokesman insisted Ireland cannot afford to wait until the next EU Summit meeting to deal with the debt crisis.
Deputy Doherty said the markets have already predicted the results of the stress tests as yields on ten year Irish bonds passed the 10% mark and dithering at an EU level will prove very costly.
Deputy Doherty told donegaldaily.com: “Enda Kenny’s agreement to take Ireland’s bailout off the agenda for the Summit meeting was a monumental mistake and will prove very costly.
“The markets have already predicted the results of the stress tests as yields on ten year Irish bonds continue to rise above the 10% mark.
“This is very dangerous territory and we simply cannot afford to wait until the next EU Summit meeting to deal with this matter.
“The Taoiseach’s first priority at this Summit meeting should have been to stand up for Ireland yet before the meeting even started he allowed our issue to be taken off the agenda. That is simply not good enough.”
Mr Doherty added: “The fact is that if we do not deal with the issue of Ireland’s debt then we are facing the nightmare scenario of a sovereign default that could plunge the whole of the EU into crisis.
“Enda Kenny must go to the other EU leaders at this Summit and demand that the issue of Ireland’s debt is placed back on the agenda and prioritised appropriately.” ENDS