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Irish government agrees to stop funding arms manufacturers

category national | anti-war / imperialism | news report author Tuesday March 04, 2008 11:18author by phats Report this post to the editors

Foreign affairs minister Dermot Ahern has announced that the government is to enact legislation to stop the National Pension Reserve Fund from being used to invest in cluster bomb manufacturers. Irish taxpayers have nearly €70 million worth of shares in companies that produce cluster bombs as a result of the government's investment policy.

As reported by Aine Bonner in the Star newspaper on 27th November '07, the National Pension Reserve Fund (NPRF) has invested €500 million of Irish taxpayers' money into companies that produce nuclear weapons and cluster bombs. This is in spite of the fact that the NPRF was a signatory of the UN Principles for Responsible Investment in 2006.

As a result of the article today's issue of the Star reports that Dermot Ahern has promised that the NPRF will no longer fund companies that produce cluster bombs.

The article is not clear on whether the ban will encompass other types of munitions.

author by phats - Galway Food Not Bombspublication date Tue Mar 04, 2008 13:36author address author phone Report this post to the editors

So the clarified story is that at the moment they're pulling out of cluster bomb makers. (The upcoming Cluster Munitions Conference in Croke Park in May has something ot do with this).

But once the legislation is changed it will allow investment policy to be made on ethical grounds as well as financial, so it will set a great precedent for calling on the government to withdraw our money from the peddlers of nuclear and other types of weaponry.

author by ?publication date Tue Mar 04, 2008 13:38author address author phone Report this post to the editors



This conference centre and pitch is being used to house and refresh makers in weaponry
and killing machines?

Mostly we agree that the knackers who attempt to lead us but abuse office to further crony
interests have done their time-

author by paul o toolepublication date Tue Mar 04, 2008 13:43author email pauljotoole at eircom dot netauthor address author phone Report this post to the editors


According to a report by A.F.R.I. in 2006 the Irish government profit up to FIVE BILLION EURO in taxes alone from the arms trade here in Neutral Ireland. Manufacturers here make the software and hardware installed for missiles which are what make them 'smart bombs', We also make the triggers for cluster bombs in Galway.
When it comes to ethics the Irish government has zero. They could care less about the suffering we cause and participate in as witnessed by an activist when approached during the election on this issue. As minister for trade and enterprise Harney denied that Ireland was participating in the arms trade saying....'they probably make kettles for all I know'...her get out clause is the ...'dual use purpose'...
Thet are all guilty of warcrimes.
Minister for defense Willy O Dea invested in Petrel Resources just before Shock and awe and his stock rose by 410 % just after the massacre started and he dosent see a conflict of interest.
The Irish Government is nothing but a Parasite Fascist morally bankrupt gohst of what it pretends to be. Im sure the women and men who sacrificed their lives to create an Irish State are turning in their graves to see what the current cabal of greedy warmongering self serving cowards have done with their dream of Soverigenty and Independence.
Dermot Aherne is the man who pleaded with the newly installed Iraqi government to Spare the life of Sadam Hussein and never spared a single word for the 1.2 million civilians we have killed.....he probably thought he could still sell Sadam beef like the Govt did in the 80's while he earned the name 'The Butcher Of Baghdad'
I wonder Mr Aherne, does this mean you will remove and re-invest the money already turned over to arms manufacturing....or as your article says they will ' no longer' invest in unethical stock and leave their initial investment alone??.

author by Sarah - Galway OWCpublication date Tue Mar 04, 2008 16:08author address author phone Report this post to the editors

The event in croke park in May is an iNTERNATIONAL ANTI CLUSTER MUNITIONS CONFERENCE.
There is an organisation operating now here in Ireland and they will be running a speaking tour round the country- when I get their proper name etc i'll post it.
The conference and Campaign are welcome but let's not let it distract us by thinking if we stop investing in one particular type of weapon through campaining that we are achieving the political sea change we need. In the words of a Palestinian mate of mine 'the day i found myself on foot ,facing a tank and i was wearing a 'control small arms' T shirt - I was forced to reevaluate my priorities'..........

author by Karl Mahonpublication date Tue Mar 04, 2008 20:23author address author phone Report this post to the editors

CTL, Galway, which does research for the merchants of death, including Lockheed and Raytheon, is subsidized by the Irish and British governments.

http://www.entemp.ie/press/2005/20051006.htm

author by nonepublication date Thu Mar 20, 2008 18:21author address author phone Report this post to the editors

http://home.eircom.net/content/irelandcom/topstories/12...omnet

t was now proposed to withdraw these investments. The spokesman said five of the companies were US-based: Raytheon, General Dynamics, Lockheed Martin, Alliant Techsystems and L3 Communications. The sixth was a French company, Thales.

Time for some all Ireland thinking on Raytheon and Thales then.

author by Peter - MedAction Irelandpublication date Thu Jul 17, 2008 21:57author email fleetinggentleman at yahoo dot co dot ukauthor address author phone Report this post to the editors

Is anyone interested in trying to exert pressure on the government in a co-ordinated fashion to divest from nuclear weapons manafacturers? I think it's a good time to start moving on it, and Ireland (believe it or not) has a good record in setting precedents on Nuclear Disarmament. fleetinggentleman@yahoo.co.uk if so.

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