Tuesday 28 February 2017

Government looking for bondholder contribution, says Gilmore

Majella O'Sullivan

Majella O'Sullivan

TANAISTE Eamon Gilmore has said the Government is seeking a contribution from senior bondholders in both Anglo Irish Bank and Irish Nationwide.

While Mr Gilmore did not quantify what the scale of this contribution would be, he said it would be the subject of discussions with the European Central Bank (ECB).

Speaking in Killarney, Co Kerry, Mr Gilmore said there were continuing discussions with the ECB in relation to the issue of bondholders.

He made his comments on the day when a delegation from the EU/IMF arrived in Dublin to review Ireland's compliance with the bailout deal.

Mr Gilmore also ruled out the abolition of the joint labour committee (JLC) system but said there was widespread consensus that it had to be reformed.

Recovery

Mr Gilmore told the biennial conference of the Irish Congress of Trade Unions that the Government would continue to talk with unions and employers and would work with both to have an understanding that would facilitate recovery, but he ruled out the reopening of Social Partnership as we know it.

"That was a form that operated at a particular time in history but we're quite clear there has to be dialogue between the Government, trade unions and employers for the very reason that the journey this country now has to go on in order to get economic recovery."

He also committed to changes at top levels of pay in the 'sheltered sectors'.

The congress passed a motion by the Irish Nurses and Midwives' Organisation calling for a mortgage strike as part of a campaign to have mortgages on principal private residences revised to match current market values.

Irish Independent

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