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EURO AREA LOAN FACILITY BILL 2010

Posted on May 25, 2010

The purpose of the Bill is to give Dáil approval to the Loan Facility Agreement between the Euro Area Member States of the EU and Greece in order to prevent Greece from defaulting on its loans and to secure the stability of the Eurozone as a whole.

The Bill provides for the loans to be managed by the EU Commission on behalf of the Member States and for conditions to be applied in relation to fiscal measures and structured reforms which will be reviewed quarterly by the Commission, the International Monetary Fund and the European Central Bank.

The funding totalling €110 billion - €80 billion from the EU Member States and €30 billion from the International Monetary Fund will be payable over three years.

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Permanent link | Categories: FinanceForeign & European Affairs

Gaza Visit - Day One - Tuesday 21 July

Posted on July 21, 2009

Six o’clock on Tuesday 21st July.  Its a rude awakening to be on the road to Gaza from Jerusalem at that hour.   A modern highway took us to the Border Crossing at Erez a couple of kilometres before the crossing.

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Permanent link | Comments (0) | Categories: Foreign & European AffairsGazaIsraelPalestinian Territories

Gaza Visit - Prelude

Posted on July 19, 2009

A delegation of members of the European Affairs Committee and the Foreign Affairs Committee will visit Israel and the Palestinian Territories beginning today, on a fact-finding mission.

The Joint Committee Members were shocked by the Israeli military incursion into Gaza over the Christmas period resulting in the deaths of over 1,400 civilians and the destruction of an enormous amount of property including schools and hospitals and the HQ of the UN Relief Agency (UNWRA).

While the conflict was still raging the EU Affairs Committee agreed two resolutions unanimously. One resolution in my name called inter alia for “an immediate review of the existing EU Israeli Trade Agreement in terms of its required compliance with human rights, democratic principles and international law”.

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Permanent link | Comments (0) | Categories: Foreign & European AffairsGazaIsraelPalestinian Territories

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