I am calling on Labour MEP Alan Kelly to clarify his comments regarding the EU/IMF “bailout” interest rate.

Below is the text of a press release that I sent out today. I think this is a very important matter.

PRESS RELEASE

18/02/11

INDEPENDENT CANDIDATE KATE BOPP CALLS ON MEP KELLY TO CLARIFY REMARKS ON BAILOUT INTEREST RATE.

Independent candidate for North Tipperary Kate Bopp is calling on Labours Allan Kelly, MEP for Tipperary North, to clarify his remarks made on the EU/IMF bailout interest rate.

During an election debate in Nenagh, Tipperary last night Kelly stated that he had met with EU Commissioner Olli Rehn days before the EU/IMF “bailout” deal had been signed and that at the time of their meeting Rehn had made clear to him that a much lower interest rate was on the table.

“I was shocked by this statement” said Bopp “and I wanted to take him up on this but the discussion went off in a different direction”.  Reflecting on it a day later I am even more amazed by it and think that such a statement raises several serious questions. That’s assuming it’s true. If such a lower rate was available why did Cowen & Lenihan agree to a punitive rate of 5.8%? But more importantly why did  Kelly not mention this very important detail at an earlier stage?  It would mean that an opposition MEP (Kelly is a Labour MEP) sat on his hands while Ireland was shackled to a destructive repayment agreement.

Does this stroke with Labours decision to publicly oppose the bailout and finance bill while at the same time facilitating the passing of the latter? “I am calling upon Mr. Kelly to clarify his comment and to make clear if this lower interest rate was really on the table at that point”. “I think that the people of Ireland have a right to know this and will continue to pursue to matter until a satisfactory ending”.

For more information please see: www.katebopp.com

Or contact Kate Bopp on 086/8645099 or email campaign@katebopp.com