There were strong calls in the Dáil from opposition TD’s asking the Finance Minister Michael Noonan to offer his resignation after a number claims state he misled the house about the European Central Bank’s stance on burning bondholders.
The news comes after the Banking Inquiry found that the ECB had threatened to stop providing funding for Irish banks cut off bondholders. That revelation left Social Democrat TD Stephen Donnelly calling Mr Noonan’s resignation claiming that the ECB’s stance was a complete contradiction of what Michael Noonan told the Dáil four years ago: “I asked the Minister in this house, if any threat had been made, to withdraw emergency liquidity assistance if Ireland looked to burn the bondholders.” “Minister Noonan stated neither of these threats were ever made. “I believe and the Social Democrats believe that Mr Noonan should resign.”
Mr Noonan is yet to respond to the claims.