Martin: Spanish bank bailout deal bad for Ireland
Fianna Fáil leader Micheál Martin said today that the deal done to bail out Spanish Banks is bad for Europe and bad for Ireland.
He has also called on the Taoiseach Enda Kenny to assert his position at EU level, in a bid to get a better deal on Irish banking debt.
Spain and Italy have seen their borrowing costs rise today, as the initial optimism that greeted the bank bailout in Spain began to evaporate.
Spanish and Italian bond yields have reached six-month highs, sending both countries closer to bailout territory.
Deputy Martin said that the Taoiseach needs to take a tougher stance in a bid to get a better deal for Ireland.
"I think what needs to happen is a Europe summit needs to be convened, a number of heads of State need to get together," he said.
"I think the Government should build alliances with smaller States as well, and assert our position that the approach up until now isn't working in terms of supporting the euro and dealing with the crisis.
"We need to be quite assertive in articulating that position, I don't think, even in the articulation of our views on Europe we've been assertive enough at all."
