Opposition condemns use of pension fund in bailout

Good to see the opposition showing some backbone at last, but pity it’s over the use of the pension reserve fund. IMO it makes perfect sense not just that the EU and IMF would insist on us spending our savings first, but also that the money from the NPRF will be cheaper than the bailout money. However, they also criticise the rate which has, unsurprisingly, been “negotiated” down to 5.8% from the 6.7% that somehow got reported by RTE.

“But we wanted to spend that money!”

That money was earmarked for the “stimulus” package.

This is the bit I can’t get my head around. Pat Rabbitte was enraged about the spending it on deal because he had planned to spend it on a “stimulus”.

But Pat - how did you plan to pay to keep the lights on?

did anyone seriously think we would be allowed to keep our Sovereign Wealth Fund and get a bailout at the same time?