Palestine Solidarity campaigners and elected representatives are continuing to apply pressure on Irish State institutions for their complicity in Israel’s genocide due to their role in facilitating the sale of Israeli bonds in the European Union.
Bills for enactment were put to Dáil Éireann national assembly so as to enable Governors of the Central Bank of Ireland to stop hosting the sale of the bonds within the EU. After they were narrowly voted down by TDs, protests were staged outside the local constituency offices of ministers and elected politicians who had sided with the Government, where people vented their disappointment and disgust towards them.
DiEM25 members who are active for the cause of Palestine are again calling on the citizens and residents of the EU to play their part by writing to the Central Bank Governors. This should not be looked at as ‘an Ireland only’ issue.
The Governors are effectively acting on behalf of the European Central Bank (ECB) by enabling the sale of these bonds, which the Israelis themselves describe as supporting their war effort in Gaza. This is a concern for all people living in Europe, and everyone makes a difference by adding to the pressure to demand that the right thing be done.
Replies to the letters already sent by DiEM25 members living in the EU, but outside Ireland, have been received. These replies highlight the complacent and uncaring outlook of some officials working in EU institutions about the horrors on the Palestinian people being perpetrated by the Israeli military.
The replies also expose how they refuse to engage in the specific points that were raised in the letters to the Governors. Follow up letters to the Central Bank pointing this out were met with further obfuscation referring, amongst other things, to legal advice that it has taken on the matter, but now refuses to publish.
The Central Bank’s final reply points to their Frequently Asked Questions page on their website and a recent opening statement by the Governor of the Central Bank at a session of the Oireachtas Finance Committee of Dáil Éireann, This once again failed to satisfactorily address the issues raised, and ends with a statement that they cannot comment further.
This shows that they are sticking to their policy of ignoring the demands and protests being made by campaigners for human rights and justice for the people of Palestine. Despite this, campaigners remain determined to continue applying pressure in every way possible.
Contact is now being made with the Chair of the Oireachtas Finance Committee to ask her to request to see the legal advice the Central Bank refuses to reveal. In addition, we are asking the committee to demand that the Central Bank ensures that the following important information is included in the Israeli Bond prospectus:
- A clear statement that the ICJ ruling of 26 January 2024 found plausible that there is a real and imminent risk that irreparable prejudice will be caused to the rights of Palestinians under the Genocide Convention.
- The ICJ advisory opinion on 18 July 2024 concerning the illegal occupation by Israel of Gaza, East Jerusalem and the West Bank.
- The UN General Assembly Resolution A/RES/Es-10/24, overwhelmingly adopted on 18 September 2024
- The real possible risks of negative economic outcomes for Israel (possible sanctions, trade embargoes, liability for reparations, etc.) resulting from the ICJ rulings and the UN resolution mentioned above. The Hague Group declaration is one tangible example of actions being taken by States due to these ruling and the UN Resolution A/RES/Es-10/24.
- The proceeds from these bonds are, at least in part, being used to finance Israel’s war in Gaza and settlements in the illegally occupied Palestinian territory.
Should Israel refuse to do this, the Central Bank would have adequate reasons not to approve the prospectus and thereby stop their ability to be sold in the EU.
The fight to stop Israeli bonds being sold in the EU is a multi-pronged campaign that is making an impact and increasing pressure on the Central Bank and politicians to take action. Citizens and residents in different EU countries writing to the Central Bank Governors is an important contribution to this overall campaign – please join and help us bring to an end the obscenity of funds being raised in the EU that enable Israel’s genocide in Gaza to continue.
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