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The French would say “non” to €140 billion profit margin

Fine Gael TD for Dublin South, Peter Mathews, has today  praised the Minister for Finance, Michael Noonan, for highlighting the fact that Ireland will be forced to pay €9 billion in profit to our EU partners. That’s 7% of our annual national income.

“Let’s look at this comparatively. If France had to face such a bill, it would amount to almost €140 billion in profit to the rest of Europe and if Germany faced this scenario, it would have to hand over €180 billion.
“These amounts are almost two thirds of the annual health budgets of France and Germany respectively. If forced to pay such amounts, the citizens of both countries would be made to suffer unnecessarily so that the EU could profit from their situation.
“Do you think that citizens of each country would tolerate such a burden? Minister Noonan is absolutely right to highlight this. We have always set out that the interest rate on the EU forms assistance is excessive, and we have been working to reduce this interest rate. We would encourage, in the interest of solidarity, that our EU partners work with us to achieve this end.”

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