Sinéad Gibney (Dublin Rathdown, Social Democrats)

As did my colleague Deputy Gannon, I want to address the reaction to my use yesterday in the Chamber of the word "complicit". The Taoiseach had a very strong reaction to it. I want to be clear about why I use this word. Maybe a better word to describe the Central Bank and its role is "involvement". Perhaps this would make it easier for people to understand it. The Central Bank is involved in the sale of Israeli bonds in Europe by approving the prospectus. This is a fact and it is indisputable. The reason the word "complicit" applies is because complicity is not just through action, it is also through inaction. By facilitating the sale of these Israeli bonds, and by Government inaction to stop the Central Bank from facilitating the sale of Israeli bonds, all Irish people are made complicit in the actions of Israel. This is what we are saying when we say "complicity". This is why we are inundated with emails and the Minister is inundated with emails, and why all of our constituents are reaching out to us, absolutely heartbroken, begging for something to be done. It is why people are turning out on the streets again and again. We are not asking the Minister to fix this all on his own. We just want him to try.

I want to speak on some of the countermotion and rebuttal the Minister has put forward. I will start by quoting the Central Bank's own code of conduct, as I have done previously in the Chamber. It states that, "Acting with integrity requires a higher standard of behaviour than simply achieving a basic level of compliance with applicable laws and/or regulations". When the Minister says he does not believe this would be workable and that it would be undermining independence, I am not at any point taking for granted that there is not a complex set of laws and financial regulations that dominate the activities of the Central Bank, none of us are; we understand the complexity of the picture but the Genocide Convention is clear. In January 2024 the International Court of Justice found that the Palestinian people in Gaza had plausible rights to be protected from the imminent risk of genocide and that there was an immediate legal obligation to take maximum action to prevent genocide. Believing that something is not workable is not reason enough to fail to act. We have to try. If this means testing it in the courts, then we have to try. If we as a State have to muddle through the complexity of this first step, that is what we have to do because it will set off a domino effect for country after country. The Government must go further to end the Israeli prospectus and, if necessary, fight it in the courts. The same ruling of the International Court of Justice states all UN member states are also under an obligation not to render aid or assistance in maintaining the situation created by Israel's illegal presence in the occupied Palestinian territories. Again, it gives legal force to allow us to do it.

I want to draw the attention of the Minister to the Central Bank's own FAQ on bonds.

The Central Bank [as we have heard] can only refuse the approval of a prospectus where the Central Bank has a legal basis to do so. Other than insufficient prospectus disclosures, an example of a legal basis for refusal would be:

1. The existence of EU financial sanctions prohibiting the provision of services or assistance in connection with the issuance of securities by the Israeli government, or

2. National restrictive measures to the same effect.

What the Sinn Féin Bill tried to introduce a couple of weeks ago, and what we are trying to introduce now, is national restrictive measures. The Government's countermotion states the Central Bank "has clearly stated that an Advisory Opinion of the ICJ, or indeed the processes of the ICC does not constitute grounds for the [Central Bank] to refuse the prospectus". What it fails to state is that the Central Bank has said an example of a legal basis for refusal would be national restrictive measures to prohibit the selling of securities with Israel. These are some of the ways in which I believe the countermotion is incredibly weak. As colleagues have done, I urge the Government to facilitate a free vote on this.

We in Ireland feel powerless. I feel powerless and heartbroken. The people of Ireland tell me they feel powerless. We have seen incredible leadership from the 12 individuals on the Madleen, from Trinity College divesting itself, as the first third level institution to do so, from Israeli institutions, from the people who are joining right now a caravan to march on Gaza, and from the Hague Group which has just now called for an international conference to end this genocide. We need to see the same leadership from the Government to push through and make sure the sale of Israeli bonds is stopped in Europe and facilitate the end of this genocide.

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