The Daily Star Ireland
Opposition parties in Ireland have urged the government to permit a conscience vote on a forthcoming Dáil motion aimed at halting the Central Bank of Ireland’s facilitation of Israeli bond sales. The motion, introduced by the Social Democrats and supported by Sinn Féin, Labour, and People Before Profit/Solidarity, seeks to prevent the Central Bank from approving Israeli government bonds for sale within the European Union.
Following the United Kingdom’s exit from the EU, Ireland assumed the role of approving Israeli bond prospectuses, a prerequisite for their sale in the EU. These bonds, issued by the Israeli government, have been marketed with slogans such as “Israel is at war” and “Stand with Israel,” leading critics to label them as “war bonds.” Opponents argue that the funds raised support military actions in Gaza, which have resulted in significant civilian casualties.
Sinn Féin previously introduced the Restrictive Financial Measures (State of Israel) Bill 2025, aiming to grant the Minister for Finance the authority to prevent the Central Bank from approving these bonds. The bill was defeated in the Dáil by a vote of 87 to 75, despite support from opposition parties and two government-supporting Independent TDs, Barry Heneghan and Gillian Toole. The government cited legal concerns, stating that the bill could conflict with EU law and the independence of the Central Bank.
Opposition’s Call for a Free Vote
Social Democrats TD Sinéad Gibney emphasized the moral imperative of the motion, suggesting that allowing government TDs a free vote could lead to a broader international stance against the sale of such bonds. Sinn Féin’s Seán Crowe highlighted the deteriorating humanitarian situation in Gaza, asserting that continued facilitation of these bonds implicates Ireland in the conflict.
People Before Profit TD Paul Murphy accused the Israeli government of manipulating humanitarian aid and criticized the Irish government’s role in enabling bond sales. Labour’s Duncan Smith argued that passing the motion would signal Ireland’s ethical stance against the financing of military actions resulting in civilian harm.
The government maintains that the Central Bank’s role is limited to a technical assessment of bond prospectuses and does not equate to endorsement. Finance Minister Paschal Donohoe expressed concerns that the proposed legislation could be unworkable and subject to legal challenges within the EU framework. Taoiseach Micheál Martin reiterated the importance of adhering to EU laws and emphasized diplomatic efforts as the appropriate means to address the situation in Gaza.
Public and Political Response
The defeat of the previous bill prompted protests within the Dáil chamber, with opposition TDs displaying signs reading “Stop Financing Genocide” and “Ban Israeli Bonds.” Public demonstrations have also taken place outside Leinster House, reflecting widespread concern over Ireland’s role in the sale of these bonds.
As the new motion approaches, opposition parties continue to advocate for a free vote, urging government TDs to consider the ethical implications of the Central Bank’s involvement in facilitating Israeli bond sales. The outcome of the vote will likely influence Ireland’s position on international financial practices related to conflict zones.
