Pearse Doherty (Donegal, Sinn Fein)

I support the motion and commend the Social Democrats on bringing it forward. This motion is in line with the debate we had last week on Sinn Féin legislation that would stop the Central Bank facilitating the sale of Israeli war bonds in Ireland. It would have an immediate effect on their sale in Europe also. During the last debate I said that the response of the Minister was shameful and I believe his response is shameful again today. History will show that the Minister is on the wrong side of this issue. He has danced around the issue. He has told us what the Central Bank is not doing. He has used carefully constructed words to tell us what we cannot do. However, the reality is that if Government wants to initiate national measures that will ensure the Central Bank does not sign off on a prospective and, therefore, not facilitate the sale of these war bonds in Ireland, then it can do so. That is the reality of it and the start and finish of this issue. If there is a political will then this can be stopped. The Minister talked about the Central Bank not selling these bonds, or doing this or that. What the Central Bank is doing is facilitating the sale of Israeli war bonds in the face of a genocide.

We have heard from colleagues what is happening in Palestine and I do not need to repeat it. We are all appalled about it. It is not a question of how appalled we are; it is a question of how we have a position of authority and power to enable us to do something about it. The facilitation is what is written in the legislation. That is what the Central Bank is doing. Can it be stopped? Of course, it can be stopped. The Cabinet just approved the heads of Bill of the occupied territories Bill. It will use a public-policy exemption to be able to enact that into law here in Ireland. This public-policy exemption on the free movement of goods is important. We have argued for the same public-policy exemption on the free movement of capital. Why is the free movement of capital an easier one to get? It is because the free movement of goods is an exclusive EU competence, whereas the free movement of capital is only a shared competence. Article 63 allows for an exemption under it. That is why it has happened in other EU member states in relation to capital restrictions but it has to be measured against four principles that have been carried out and tested in the European Court of Justice. That is what the legislation would do.

It is fine if the Government has an issue with the way we have framed the legislation. It can draft its own and stop the sale of Israeli war bonds in Ireland and stop the Central Bank from facilitating their sale. The Minister is the person, above anybody else in this House or in the country, who can, as Minister for Finance, bring this legislation through. That is why I say, unfortunately, the Minister is on the wrong side of history. Genocide is staring us in the face. It is happening in real time and the Minister is complicit, because the Central Bank is facilitating it. Above anyone else, the Minister is the person who can stop this by supporting this motion and enacting the necessary legislation.

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