Dáil Éireann Debate, Tuesday - 21 January 2014
205. Deputy Clare Daly asked the Minister for Finance the reason he has not taken action under Articles 35:1 and 340 of ECB statutes and initiated the taking of a case to the ECJ seeking clarification of the legality of the ECB's actions in October-November 2010 in forcing Ireland to repay unsecured debts. [2486/14]
View answerI should state initially that Ireland has always honoured its debt obligations without any requirement that we be forced to do so, whether by the ECB or anyone else.
I have not taken action under Article 35:1 and Article 340 of the ECB Statutes and initiated proceedings at the Court of Justice of the European Union seeking clarification of the legality of the ECBs actions in relation to Ireland. Nor do I consider that the initiation of proceedings as suggested would be necessary. The Government maintains a close co-operative relationship with the ECB and the interests of the State are best served by dealing with the ECB in the context of that relationship. Of course this would not preclude the initiation of such proceedings in the event that same should become necessary because of a legally questionable action of the ECB.
