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Pearse Doherty Sam Boal/Photocall Ireland

Sinn Féin on Troika meeting: 'We gave it to them hard and heavy'

Pearse Doherty said that officials from the Troika told Sinn Féin that the chances of retrospective bank recapitalisation are “very slim”.

SINN FÉIN HAS claimed that officials from the Troika told them today that the chances of Ireland being able to retroactively recapitalise its banks through the eurozone’s permanent bailout fund are “very slim”.

Speaking after the party’s final meeting with officials form the EU, IMF, and ECB in Dublin today, Sinn Féin finance spokesperson Pearse Doherty said that officials shook their heads as they informed him and other party representatives that the chances of retroactive recapitalisation are “very slim”.

“The potential of recapitalisation – getting our money back which we put into the banks – they said, as they shook their heads, [that] it is very slim if no chance there because of political circumstances and the rest,” Doherty told the media.

He added: “The Troika said to us, when we put the question to them, that there would be political circumstances that would have to be taken into account and the potential for this here would be low.

“[That] was the best that they could come up with, as they shook their heads.”

He said that was the response from the European Commission, adding that the IMF said it was something the government should continue to pursue with officials in Europe.

Of their meeting with the Troika today, Sinn Féin added that it was a very forthright engagement with the officials.

“We gave it to them hard and heavy,” Doherty said. “We explained that the country isn’t a set of accounts, it isn’t a set of balance sheets. It’s real people.”

Ireland is pushing for retrospective recapitalisation of its banking sector through the eurozone’s permanent bailout fund, the ESM.

But progress on this has been slow since a historic decision was made in June 2012 to break the “vicious circle” between bank and sovereign debt.

Prior to last week’s European Council summit in Brussels, Taoiseach Enda Kenny wrote to the 27 EU leaders and Council president Herman van Rompuy to underline the “imperative” of breaking the link between sovereign and bank debt, saying it is key to advancing Ireland’s post-bailout prospects.

WATCH: Backbench TDs would welcome the Troika back… as long as they’re on their holidays

Paschal Donohoe: ‘The ESM retrospective use is acknowledged in writing by EU ministers’

In full: Taoiseach tells EU leaders it ‘remains imperative’ to split bank and sovereign debt

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82 Comments
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    Mute rotund jocularity
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    Oct 31st 2013, 5:19 PM

    What it means, and I dislike sinn fein, is that they’ve given us a straight answer. Theres no appetite anywhere in eurotown for ireland getting any of the ‘game changing’ back. We kept their banks afloat and have been told thanks but tough 5hit.

    341
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    Mute Ronan Stokes
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    Oct 31st 2013, 7:14 PM

    It also goes to show what a seismic error of judgement it was by Noonan to throw away our last bargaining chip when he converted Promissory notes into sovereign debt. The boys in Germany must be peeing themselves laughing.

    175
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    Mute Tony Canning
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    Oct 31st 2013, 8:47 PM

    Kept the euro afloat.

    “Thanks for that suckers – now queue up there for your free kick in the nads”

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    Mute Sean Collins
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    Nov 1st 2013, 2:21 PM

    By god the troika boys must have been shaking in their shoes when the met the shinners hahaha

    3
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    Mute Jack Daniels
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    Oct 31st 2013, 5:39 PM

    Remember just remember who conned you in the Fiscal Treaty . There’s nothing more to be said really.

    210
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    Mute Kerry Blake
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    Oct 31st 2013, 5:34 PM

    Well as they say the truth will eventually surface. So much for Enda’s seismic shift and Eamon’s game changer…….

    191
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    Mute Jack Daniels
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    Oct 31st 2013, 5:51 PM

    Jaysus that Pearse Doherty has some nerve for being right again The point being that majority of voters were conned again .ie Fiscal Treaty by the Government but its great to see our youngest and brightest having ago at the man who tried to warn them. The future is bright.

    160
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    Mute
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    Oct 31st 2013, 5:09 PM

    Sounds like a bad porno

    159
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    Mute The Green Monkey
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    Oct 31st 2013, 5:18 PM

    For once the Irish people aren’t getting screwed……….

    26
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    Mute Scarr
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    Oct 31st 2013, 7:13 PM

    The troika won’t shit right for a week.

    40
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    Mute Paul Roche
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    Oct 31st 2013, 6:00 PM

    The story here is that the Troika have reiterated there will be no retrospective bailout for our banks. Enda and Eamonn have a lot of slithering to do. Doesn’t look good.

    147
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    Mute Richard Barrett
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    Oct 31st 2013, 7:27 PM

    slithering is what they do best

    69
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    Mute Michael Allen
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    Oct 31st 2013, 6:11 PM

    The loyalist thugs are out in force squirming at the sight of Sinn Fein defending the Irish People and wriggling in agony at Sinn Fein’s growing in support on the Island of Ireland. U-de-man Pearce! ;-)

    122
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    Mute Tony Canning
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    Oct 31st 2013, 8:54 PM

    Um what? I wasn’t aware that regarding Sinn Fein as low on my own personal voting card meant that I was a loyalist…..

    Thanks though. Love being categorised… it makes me feel a part of something.

    21
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    Mute Sean South
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    Oct 31st 2013, 5:15 PM

    because of political circumstances and the rest…
    can anyone explain what this means?

    90
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    Mute Stephen Fitzpatrick
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    Oct 31st 2013, 5:19 PM

    The German people have serious issues with us being bailed out – they don’t see why they should pay for our hubris

    112
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    Mute Sean South
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    Oct 31st 2013, 5:25 PM

    thanks stephen

    32
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    Mute Mary Kavanagh
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    Oct 31st 2013, 6:05 PM

    They were very happy to lend to us knowing full well the consequences to them – nil.

    119
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    Mute Dublinjonny
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    Oct 31st 2013, 6:27 PM

    The German people are far more intelligent than the people on this site. They are not paying to bail out Ireland as we are paying them back with intrest . They are also fully aware that we a paying same said money to pay off bond holders they know whats going on and have been against it from day one . They also warned us this would happen at the time of the bank guarantee

    84
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    Mute Jim Hartnett
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    Oct 31st 2013, 7:45 PM

    And many people here cannot see why we should pay for their hubris either. Despite famed German efficiency, their banks were taken in by the Irish ponzi scheme and loaned cheap money to the likes of Seanie. Under normal capitalist rules then they would have lost but our politicians refused to let that happen and now we are in hock for almost the entire amount. What the Germans failed to do with tanks, they are now doing with banks.

    83
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    Mute Paul Fahey
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    Oct 31st 2013, 8:03 PM

    Jim – my sentiments exactly and the Germans were the top of the Ponzi scheme, but at the time we thought we were.

    54
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    Mute Kate Ellen Egan
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    Oct 31st 2013, 9:55 PM

    The Germans didn’t have the rock star lifestyles of the hubris driven Irish either, during our tiger years, they still rented their modest homes, earned far less,not for them the 10 houses or foreign apartments,a 2 week holiday for them, and all the while our 3 car families flew round the world several times a year basking in sunny climes, yes it all happened, no point saying we were forced to borrow at gun point almost by the Germans,,we willingly signed on the dotted line and now it’s all their fault !!!

    25
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    Mute pat mustard
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    Oct 31st 2013, 10:04 PM

    Speak for yourself, I never splurged during the boom years and I’m sure a lot of other people didn’t get carried away with themselves so why should we suffer because of the mistakes and greediness of others.

    47
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    Mute Jim Hartnett
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    Oct 31st 2013, 11:33 PM

    Well done Kate, the auld reliable ‘we all partied’ line. I worked hard and always had only one car, currently a 03 vectra. In 12 years I have had only one holiday outside the country. Hardly celtic tiger lifestyle I’m sure you would agree.

    On another note we are all aware of people who went to the ‘experts’ to take advice on their finances and came out of offices with much more than they went in for. They are to blame for sure but is the banks completely without blame? Really?

    27
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    Mute richard fallon
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    Nov 15th 2013, 9:20 AM

    @Kate, wow , you must have had a great time , I certainly did not do any of those things , i worked my back off , paid my household bills , drove an old car, and i have had one holiday in the past 7 years.but fair play to you if you were able to enjoy YOUR life.

    1
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    Mute Silent Majority
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    Oct 31st 2013, 6:43 PM

    This whole thing is becoming a tragic charade. The EZ has no hope of survival with such massive fiscal imbalances among member states, and the refusal to apply actions which have been deemed necessary for the future retrospectively too will only compound these imbalances. In truth, Ireland will be all right, won’t be great but we’ll be all right. We speak English so ultimately if things do get bad we can leave (not an ideal solution, but at least it presents us with options) and is also an advantage in attracting external investment. But what of Greece, what of Spain, what of Portugal, what, ultimately, of France?
    The collapse of the EZ will lead to the dissolution of the EU. Many on here would see that as a good thing, but for all its faults we have witnessed the most peaceful period of European history. Such a great plan, such great vision, and it has all been corrupted by power hungry money men. I fear none of us will appreciate what we have until it has been consigned to history and trenches are being re-dug all across the continent.

    86
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    Mute Tony Slap
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    Oct 31st 2013, 5:32 PM

    “We explained that the country isn’t a set of accounts, it isn’t a set of balance sheets. It’s real people” – the same kind of ‘real people’ that the IRA like to blow up.

    82
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    Mute pat mustard
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    Oct 31st 2013, 5:41 PM

    Will you ever feck off, do you actually spend your whole day at the computer waiting for articles on the journal about SF to say something about the IRA, you are a pathetic excuse for a man!

    204
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    Mute Tony Slap
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    Oct 31st 2013, 5:44 PM

    Bring the dead back and I will be glad to slither off.

    55
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    Mute Noddy Mooney
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    Oct 31st 2013, 5:49 PM

    And can you bring back FF, FG and Labour’s dead while you’re at it…

    107
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    Mute 'Bull' Mick Daly
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    Oct 31st 2013, 6:04 PM

    Tony the tan

    84
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    Mute Yvonne Byrne
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    Oct 31st 2013, 6:05 PM

    @Tony If you’ll “slither off” when the “dead” come back I wonder what you would do if we could bring back all those who have died as a result of policies implemented by Fianna Fail, Labour and Fine Gael? Or what would you do if all those whose lives have been destroyed by the above named thugs were repaired and made whole again?

    82
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    Mute Tony Slap
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    Oct 31st 2013, 6:06 PM

    What about…? Just another soporific bromide from the noetically challenged Shinner-type brigade.

    31
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    Mute 'Bull' Mick Daly
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    Oct 31st 2013, 6:14 PM

    Says mr UDA Tony Tan

    84
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    Mute seamus mcdermott
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    Oct 31st 2013, 6:15 PM

    You don’t get the British to the negotiating table by bringing them flowers.

    80
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    Mute Justin Gillespie
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    Oct 31st 2013, 6:25 PM

    Aye & leave the negotiating table agreeing to administer British rule from Stormont under a Union Jack!!!

    15
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    Mute Burch Barlow
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    Oct 31st 2013, 6:25 PM

    @ Yvonne please tell us all how many people have died due to FF, FG and Labour.

    28
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    Mute Curry Chips
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    Oct 31st 2013, 8:45 PM

    Same tired old argument about the IRA, etc every time Sinn Fein is mentioned. Change the record!

    49
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    Mute Tony Slap
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    Oct 31st 2013, 9:01 PM

    Same tired old comment requesting the record to be changed whenever a SF story prompts a mention of the IRA – change the record.

    13
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    Mute Lord Loverocket
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    Oct 31st 2013, 9:22 PM

    Sinn Fein is a political party formerly linked to an armed group. Just like FF, FG and Labour. Jog on Slaphead, you and your type are troglodytes.

    45
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    Mute Malachy Quinn
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    Oct 31st 2013, 9:25 PM

    Ah poor Justin wants to live in the past!

    13
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    Mute Lord Loverocket
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    Oct 31st 2013, 9:34 PM

    They’re stuck in a time warp Malachy. There’s no hope for them.

    13
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    Mute Justin Gillespie
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    Oct 31st 2013, 9:46 PM

    Au contraire Malachy a chara.

    Last I checked they were all still there, cuts were still being made right left & centre & the Union Jack was still flying

    7
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    Mute Daniel.
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    Oct 31st 2013, 11:28 PM

    Your fleg is stored in a broom cupboard under the stairs in city hall.

    7
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    Mute Liam
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    Oct 31st 2013, 5:18 PM

    ‘We gave it to them hard and heavy’ I always thought Mary Lou and Gerry had this kind of side to them. Very naughty indeed.

    72
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    Mute Justin Gillespie
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    Oct 31st 2013, 6:23 PM

    A very disturbing image.

    35
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    Mute Cheeky Bums
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    Oct 31st 2013, 6:26 PM

    Eew, Gerry and MLD spacedocking! (Look it up)

    22
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    Mute John Morgan
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    Oct 31st 2013, 6:52 PM

    Urban dictionary… why did i look it up! Horrible image… Thats the halloween horror sorted

    20
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    Mute Cheeky Bums
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    Oct 31st 2013, 9:18 PM

    Happy halloween.

    3
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    Mute Golden Bryan
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    Oct 31st 2013, 5:25 PM

    ” we gave it to them hard and heavy”. Did you now, Peearse? Trust you to turn the meeting into something to make you look good. What would we do without you? I’m sure the Troika are scared now.

    Grow up, Pearse. Everything isn’t about you.

    71
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    Mute Damian Moylan
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    Oct 31st 2013, 7:50 PM

    Latvia allowed Krajbank to fail completely – no bailout. Parex bank only received a small/partial bailout (4bln).
    The ECB has praised Latvia for its low debt levels (40% of GDP), and, Latvia is a full Eurozone member per Jan14.

    Question:
    Why is there one rule for one country and another rule for a different country?
    Can the Government take a legal case on this basis or is the ECB allowed to discriminate at will, and if so, why are there no legal frameworks to prevent this?

    63
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    Mute Tony Canning
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    Oct 31st 2013, 8:52 PM

    Because we have politicians who have no guts and a population who seem to shrug their shoulders at every turn.

    71
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    Mute Hector Mann
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    Oct 31st 2013, 5:38 PM

    Ireland’s economy will recover in time. However Sinn Feins cutting words will haunt the Troika for the rest of their days.

    57
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    Mute Bryan McCoy
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    Oct 31st 2013, 9:20 PM

    He he. I didn’t know that the SF boys could be so brave with words and without their usual hardware! Any chance they could lead the bailout to the banks by example – by lets say giving back the cash injection they borrowed from northern bank!!!

    19
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    Mute O'Reilly
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    Oct 31st 2013, 5:44 PM

    I wonder did Pearce tell em where he’d get the money from to keep the lights on the last few years? If he did, did they keep a straight face?

    46
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    Mute Jack Daniels
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    Oct 31st 2013, 6:04 PM

    Id say he could have and it had nothing to do with hammering people with nothing left to give id say it was more like investing in a few cherrypickers and going up and picking them ripe plum cherries at the top of the tree making them give up some of their rich juicesAs The Troika said we care not where ye get it just get it.

    46
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    Mute Dermot Mc Loughlin
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    Oct 31st 2013, 7:09 PM

    Them lights the EU and the IMF rushed here to keep lit have ironically been dimming since they arrived. ..either lights or food, that’s the legacy of our shit government and these vultures you and so many dress up as some benevolent entity.

    29
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    Mute Gerry Mcdermott
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    Oct 31st 2013, 8:59 PM

    They have not kept a straight face,since they met our shower of clowns.

    13
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    Mute Simon MacGiolla Easpaig
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    Oct 31st 2013, 9:31 PM

    *Pearse

    I mean come on, it’s written above for you.

    5
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    Mute Jim Flavin
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    Oct 31st 2013, 5:31 PM

    “We gave it to them hard and heavy,” ”
    An insult of a statement – . does this guy not think that it is a bit late in the day after five years of robbery .
    They gave it to us via their puppets in the Dail – and it was /is a lot worse than hot and heavy .

    ”He said that was the response from the European Commission, adding that the IMF said it was something the government should continue to pursue with officials in Europe.”
    - in other words ##ck off

    42
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    Mute Mitch Cumstein
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    Oct 31st 2013, 11:13 PM

    Can we just get Pearse Doherty to go to all these meetings from now on? He’s asked more straight questions in one sitting and actually got some answers although not the ones we wanted.

    40
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    Mute Iain O Draighneáin
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    Oct 31st 2013, 5:17 PM

    that’s what she said last night

    38
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    Mute Johnny Cobblepot
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    Oct 31st 2013, 5:53 PM

    Sinn Féin are like a starved pack of wolves.

    38
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    Mute seamus mcdermott
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    Oct 31st 2013, 6:16 PM

    We need a pack of wolves right now. And they look pretty well fed to me.

    71
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    Mute Julie
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    Oct 31st 2013, 6:21 PM

    “Starved back of wolves”, fantastic exactly what Ireland needs instead of the little cowardly lambs we have at present. The wolves will gobble up them lambs, only a matter of time.

    83
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    Mute Mary Kavanagh
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    Oct 31st 2013, 7:33 PM

    As opposed to the brainwashed I’ll-sell-the-country-to-whoever-will-give-us-a- pat-on-the-head-and-a-good-job-in- Europe-sheep we have in the Dáil at present?

    43
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    Mute Galwaybay
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    Oct 31st 2013, 6:25 PM

    He could always knee cap them if they don’t give us what we want

    37
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    Mute Ru Ni Digs
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    Oct 31st 2013, 5:09 PM

    Oh matron!!!

    35
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    Mute Seamus Hughes
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    Oct 31st 2013, 7:50 PM

    All becoming a little clearer to me now. As I only recently started to read Journal.ie I was constantly confused as to why so much moaning, why so little discussion was actually based in fact, and how so many could never see the positives in any story. After reading the comments on this article am I wrong in thinking that a particular left wing party with fairytale economic policies has sought to dominate the sentiment.
    I may be wrong but the majority of comments on here reflect the party’s policies – Populist, loud, senseless and groundless. The thumbs count is just as telling.
    Now give it to me hard and heavy

    34
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    Mute pat mustard
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    Oct 31st 2013, 8:19 PM

    Could you go into further detail of their fairytale economics. This soundbite is all we here from SF’s detractors but as I remember they got their pre budget proposals costed and these proposals seemed sound and reasonable, yet the other opposition party failed to get theirs costed by the department of Finance.

    52
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    Mute Sean South
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    Oct 31st 2013, 8:23 PM

    Seamus
    Can I ask you a question
    When the Capitalist wall fell on this country in 2008, why did the rules of capitalism go out the window?

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    Mute Joe Mahon
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    Nov 1st 2013, 7:47 AM

    Good man Seamus. I like you was a bit perturbed by this phenomenon too, until I rapidly realised that (thankfully) the views expressed in the comments section of TheJournal.ie DO NOT reflect the Irish population as a whole. Otherwise Sinn Fein would have an overall majority in Dáil Éireann (what a horrific thought! Particularly apt at Halloween!).

    Sinn Fein activists are attracted to this website like flies on a cow s**t. In fairness it does make for a bit of light entertainment at times reading some of their outlandish comments.

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    Mute Rory O'Brien
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    Oct 31st 2013, 7:13 PM

    Perhaps they could have chucked in the proceeds of the Northern Bank!

    33
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    Mute Francie Doherty
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    Nov 1st 2013, 1:29 PM

    I am glad it was not an irish bank.

    3
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    Mute Kevin McCarthy
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    Oct 31st 2013, 8:22 PM

    Debt purgatory for generations. That is the future. How nice it is being part of the EU. Great friends. There is a real need to debate leaving the Euro. How else can we get back our future?

    29
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    Mute Tony Canning
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    Oct 31st 2013, 8:55 PM

    We’ve already given away all of our bargaining chips.

    18
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    Mute Anto Curran
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    Oct 31st 2013, 5:15 PM

    Giggidy Giggidy

    27
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    Mute Gerry Mcdermott
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    Oct 31st 2013, 9:04 PM

    When the Brits vote themselves out of Europe we will follow,hopefully history will teach us how to deal with that situation.

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    Mute Right Wing Steve ©
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    Oct 31st 2013, 5:44 PM

    Dirty! Protest

    16
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    Mute Padriag O'Traged
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    Oct 31st 2013, 5:16 PM

    Ooh yeah

    15
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    Mute Anti_Social_Network
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    Oct 31st 2013, 5:59 PM

    Who was wearing the 70s moustache?

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    Nov 1st 2013, 4:41 AM

    When the debt becomes all consuming and it will, we shall have to deflate, that can only be done with our own currency,,
    Our leaders job is to minimise cost of government , Sinn Fein aren’t part of that solution

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