Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-12-09-Speech-1-185-000"
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"en.20131209.22.1-185-000"2
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"Mr President, I speak this evening in support of my independent colleagues in Dáil Éireann and in support of Irish citizens, with a special mention to ʻBallyhea says NO!ʼ
Tonight I ask the European Central Bank to allow the Irish Central Bank to destroy right now 28 billion in sovereign bonds that were issued in lieu of the promissory note, and all interest payments on those bonds. The promissory note was an IOU given by the Irish people to bail out two insolvent banks in order to prevent contagion in the EU banking system. Ireland put its finger in that particular dyke.
Last February the promissory note transferred back to the Irish Central Bank and we in Ireland are now paying capital and interest to our own Central Bank, and when it is all paid our Central Bank will simply burn that money. It will evaporate. The crisis has cost us 25% of our GDP and four and a half million people have borne 42% of the cost of the banking crisis. We need a deal."@en1
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