Mairéad Farrell (Galway West, Sinn Fein) | Oireachtas source

I commend the Social Democrats on introducing this important motion. Representatives of the Central Bank will appear before the finance committee today to explain its position on why there has been no action on these bonds. Therefore, this motion is timely. Thus far the Central Bank has refused to reject the prospectuses submitted for these Israeli war bonds. Its reasons not to act have been somewhat of a movable feast. Previously, the Governor of the Central Bank told us that these were not war bonds and were instead being used for general financing purposes. Thanks to reporting by The Ditch, we learned that potential investors were being informed that the best way to serve Israel and support Israel's war effort was to buy these bonds.

The Central Bank's contention is that it has only two grounds to refuse a prospectus: the imposition of EU sanctions; and what it refers to as national restrictive measures. If a state is a signatory to the Genocide Convention, which is codified in Irish law through the 1973 Act and which makes complicity in genocide an offence, does that not constitute a national restrictive measure? If it does not, I do not know what actually does. The Central Bank and the Government are using these arguments. My colleague Seán Crowe put it correctly there: if we do not act now, when will we ever act?

It is the exact same tactic as we have seen with the occupied territories Bill. Leaked correspondence has shown that this is not a legal drafting issue with the legislation, but a political choice. We cannot have political choices that do not enable us to do everything we can to support the people of Gaza and to stop this genocide from happening. We need to do everything. If these bonds which are being facilitated are financing the war, as has been said by the Israelis themselves, we should not be dealing with them in any shape or form. This is the second time this matter has come before the House. It will also be discussed at the finance committee today. We need to see action on it because we cannot continue the way it has been going.

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