Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-02-01-Speech-1-063-000"
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"en.20160201.9.1-063-000"2
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"Mr Draghi, the recently-published report on the banking inquiry in Ireland points an accusatory finger directly at the ECB and estimates that over EUR 9 billion could have been saved on applying haircuts to the unsecured, unguaranteed bond holders but for the threats and bullying of your predecessor Mr Trichet. That EUR 9 billion is gone, history. But there is an even greater injustice happening to Ireland right now under your watch, Mr Draghi. I am referring to the ongoing destruction of the EUR 31 billion promissory note bonds. Those bonds were created in 2009 and 2010 to bail out the creditors of two insolvent Irish banks, but more significantly to help protect the euro itself. The banks were non-systemic. Those banks were eventually liquidated, but the ECB now insists that the entire 31 billion must be taken out of circulation by our central bank. Already we have borrowed 6 billion, and our central bank is now going to be forced to burn 25 billion more. Please answer this question. I am asking you today directly: will you please work with us to stop this obscenity? Do not let this be your legacy to Ireland or our legacy to our children. Please answer this question. Make it a first for me in this Parliament that any damn question would be answered!"@en1
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