Thursday, 26 April 2012

Bruton: 'No' vote 'like leaving Credit Union for loan shark'

A former Taoiseach has today compared a 'No' vote in the EU Fiscal Treaty referendum to leaving a credit union and going to a loan shark.

John Bruton said that the stakes for Ireland could not be much higher when we go to the polls at the end of next month.

He believes the country would be forced to borrow money from other lenders at much higher interest rates if we reject the treaty and cut ourselves off from further financial assistance from Europe.

Mr Bruton, who is also the chairman of the IFSC, said that now is not the time to deliver a verdict on the Government's performance.

"We're now in a Credit Union, and the Credit Union, the European Union, is helping us out with money at a difficult time," he said.

"Are we going to say no, we're going to tear up the rulebook of the Credit Union, and leave the Credit Union and instead go down and try and borrow money from loan sharks?

"That's essentially, that's the only choice really, we have to make on this occasion, all those other issues that other people are bringing up have nothing to do with the actual choice we make on the 31st of May." 

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