Government rejects motion calling on it to stop sale of 'Israeli war bonds'
The motion, put forward by the Social Democrats and supported by Sinn Féin, People Before Profit and the Labour Party, sought the reversal of a previous government decision to
block a bill calling for the same measure last month
.
Members of those parties on Monday
requested that a free 'vote of conscience' take place on the issue
– meaning that government TDs would not have to vote with their party.
The motion was defeated this evening 85 to 71 in the government's favour.
Israeli State Bonds have been advertised as a method to support the country's economy and, more recently, websites promoting the investments have emphasised their importance to Israel's military operations in Gaza.
Some TDs, as a result, have dubbed the securities as 'Israeli war bonds'.
Coalition-supporting TDs, independents Barry Heneghan and Gillian Toole,
repeated their vote to support the opposition's call
.
Both TDs previously said that they had a right to vote, as independents, in a manner they agreed with, pointing out that the programme for government does not include references to the issue.
Advertisement
Bonds from countries outside the EU must have legal documents approved by a central bank from a member state in order for the securities to be sold within the European single market. In the case of Israel, the country is Ireland.
A protest outside the Dáil today calling on government to support the opposition's motion.
Alamy
Alamy
The Central Bank itself is responsible for assessing whether the products it offers are compliant with these EU requirements.
Since Hamas's attack on Israel on 7 October 2023 and Israel's subsequent bombardment and siege of Gaza, there has been
mounting pressure on the Government
from pro-Palestinian activists in Ireland to stop the facilitation of the sale of these bonds.
But, Governor of the Central Bank Gabriel Makhlouf today defended its offerings,
telling TDs at an Oireachtas Committee
that the UN's Genocide Convention applies only to the Irish State, not the country's banking regulator.
Activists have demonstrated at the site in Dublin over the last number of months and have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns.
Speaking during a Fine Gael parliamentary party meeting this evening, finance minister Paschal Donohoe told members that oppositional TDs wanted the government to tell the state's banking regulator what to do, despite its mandated independence.
The Dublin Central TD said government cannot approve legislation that impedes on the independence of the Central Bank for legal purposes.
Opposition TDs argued this evening that, as the bonds are intended to fund the war in Gaza, Ireland has obligations under the UN's Genocide Convention to use 'all means likely to have a deterrent effect' on those suspected of committing such crimes.
Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.
Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.
Learn More
Support The Journal
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Post
an hour ago
- Irish Post
Construction industry disputes government claims of labour shortages
A GOVERNMENT report warning of a shortage of manpower to deliver on Ireland's ambitious infrastructure goals has sparked a dispute with the Construction Industry Federation (CIF). The report, issued by Minister for Public Expenditure Jack Chambers, raises concerns that Ireland's construction sector may not have the manpower or productivity needed to meet targets outlined in the recently updated National Development Plan (NDP). The NDP commits hundreds of billions to infrastructure projects through 2035, with €100 billion earmarked for delivery by 2030. According to the report, construction employment currently stands at 178,000, which is well below the 236,800 workers employed at the height of the Celtic Tiger in 2007. It is estimated that around 2,400 to 4,900 construction workers leave Ireland each year. Meanwhile, of the 39,390 work permits granted to migrants last year, only about 2,000 went to the construction sector. The report also highlights low productivity as a barrier, stating that Irish construction output is around 30% lower than in other European countries and 20% below its pre-2008 levels. It warns that if these issues are not addressed, critical infrastructure projects could be delayed or remain incomplete. However, the CIF has strongly rejected the report's findings. Paul Sheridan, the federation's director for main contracting and civil engineering, insists that the sector can deliver the projects outlined in the NDP. He argued that productivity is not the real issue and that systemic challenges—such as delays in planning approvals, unclear funding commitments, and inconsistent project pipelines—are the true barriers. 'There are no capacity constraints on the industry side to deliver,' Sheridan stated. 'The main challenges are planning consents, prioritisation of work, and funding certainty—not a lack of skilled workers or productivity.' Sheridan also noted that many Irish construction firms are increasingly taking on projects abroad, particularly in Britain and Europe, due to more reliable pipelines and profit margins. A CIF policy paper published in May echoed these points, emphasising the need for government reform around project approval and investment clarity. The report identifies 12 obstacles to infrastructure delivery, including the threat of judicial reviews and uncertainty in long-term project planning—factors the CIF argues are more damaging than labour shortages. Sheridan criticised the government's reliance on certain economic analyses that, in his view, fail to account for the flexible and transitory nature of the construction industry. He also questioned the accuracy of productivity comparisons, arguing that European benchmarks reflect countries with far larger infrastructure projects than Ireland has undertaken in recent years. See More: CIF, Jack Chambers, NDP, Paul Sheridan
Extra.ie
an hour ago
- Extra.ie
Latest figures show concerning fall in tourism numbers
Tourism numbers have fallen – and the average visitor to Ireland is spending less, latest Government figures show. And an industry expert has warned we 'could be in deep trouble' as Ireland finds itself at the mercy of the US stock exchange. Some 654,500 foreign visitors arrived here last month, down 2% from June 2024, according to figures from the Central Statistics Office (CSO). Tourists leaving here last month also spent 5.5% less than they did last June, with a spend of €881.9million. Cobh, known from 1849 until 1920 as Queenstown, is a seaport town on the south coast of County Cork, Ireland.. The typical visitor spent €1,347 last month: €359 on their fare, €51 on prepayments, €447 on accommodation, and €490 on expenses. Last June, the average spend with fares was €1,437. However, the average number of nights visitors stayed rose from 7.3 nights to 7.9, an increase of 6%. Eoghan Corry said Trump's tariffs could pose a problem for our tourism. 'We are heavily dependent on the US stock exchange. The Americans spent a lot of money in Ireland and the ones who were holidaying here in June would have booked the trip a long time ago, before Trump was making tariff threats. 'Americans are very conscious of the stock exchange when it comes to their discretionary spending. We are at the mercy of the stock exchange and, God forbid, if anything major happens, tourism could be in deep trouble.' Tourism numbers have fallen – and the average visitor to Ireland is spending less, latest Government figures show. Pic: Getty Images He also said Ireland isn't recovering from the pandemic as quickly as other countries. 'The sector has only slowed down a little bit from 2024, but other European countries are seeing their sectors growing, so if the numbers are accurate, we are lagging behind. Overall numbers compared to before the pandemic are still 38% down. People are staying for more nights, but seem to be spending slightly less. 'These two factors could cancel each other out. Many in the industry would say these figures don't reflect what they see and that they may be even slightly busier,' he said. CSO figures show just under 300,000 tourists listed hotels as their main accommodation type, while 210,000 were staying with friends, relatives or in their own property. The greatest number of visitors last month came from the UK (34%), followed by Europe (31%), US (30%) and the rest of the world (5%). US visitors rose 5% compared to last year. UK tourists spent a relatively low amount last month at €118million (18% of expenditure), while continental Europe spent €200million (31%), US spent €283million (44%) and rest of the world spent €47million (7%).
RTÉ News
2 hours ago
- RTÉ News
Trump's envoy Witkoff heads to Israel for Gaza aid, ceasefire push
US special envoy Steve Witkoff was expected to arrive in Israel in a bid to salvage Gaza ceasefire talks and tackle a humanitarian crisis in the Palestinian territory, where a global hunger monitor has warned that famine was unfolding. Indirect ceasefire talks between Israel and Palestinian militant group Hamas in Doha ended in deadlock last week with the sides trading blame for the impasse and gaps remaining over issues including the extent of Israeli forces' withdrawal. Mr Witkoff, who will meet Israeli Prime Minister Benjamin Netanyahu, arrives as Israel faces mounting international pressure over Gaza, with Canada the latest Western power to say it will recognise a Palestinian state. Israel yesterday sent a response to Hamas' latest amendments to a US proposal that would see a 60-day truce and the release of hostages in exchange for Palestinian prisoners and detainees, a source familiar with the details said. Gaza medical officials said at least 23 people were reported killed by Israeli fire across the territory this morning, including 12 people among crowds who had gathered to receive aid around the Netzarim corridor, an area held by Israeli troops in central Gaza. The Israeli military said it was looking into the report. Since the war began, the Gaza health ministry has recorded 154 deaths from starvation and malnutrition, most of them in recent weeks, including at least 89 children. Facing mounting international outrage over images of starving children, Israel said on Sunday it would halt military operations for ten hours a day in parts of Gaza and designate secure routes for convoys delivering food and medicine. The UN Office for the Coordination of Humanitarian Affairs said that the United Nations and its partners had been able to bring more food into Gaza in the first two days of pauses, but the volume was "still far from enough." With the number of Palestinians killed in almost two years of war passing 60,000 this week, pressure has been mounting in Gaza on Hamas to reach a ceasefire deal with Israel. In Israel, protests were expected in Tel Aviv and Jerusalem, calling on the government to end the war. Mr Netanyahu, whose ruling coalition includes two parties who want to conquer Gaza and re-establish Jewish settlements there, has said he will not end the war until Hamas no longer rules Gaza and lays down its arms. Hamas has rejected calls to disarm. Qatar and Egypt, who are mediating the ceasefire efforts, backed a declaration on Tuesday by France and Saudi Arabia which outlined steps for a two-state solution to the Israeli-Palestinian conflict. The declaration says Hamas "must end its rule in Gaza and hand over its weapons to the Palestinian Authority", which is led by its rivals and based in the Israeli-occupied West Bank. Israel has rejected the Palestinian Authority gaining control of Gaza. Israel has denounced declarations by France, Britain and Canada since last week that they may recognise a Palestinian state, which Israel says amounts to rewarding Hamas for its 7 October 2023 attack on Israeli territory. That attack, when fighters killed 1,200 people took 251 hostages back to Gaza, precipitated the war.
