Louth councillor welcomes support for motion on Israeli War Bonds

Louth Sinn Féin representative for Dundalk-Carlingford, Cllr Fiona Mhic Conchoille has welcomed the support received for a motion she brought before Louth County Council at its July meeting, calling on the Central Bank of Ireland to immediately stop the regulation of the Israeli Bond Issuance Programme.

Cllr Mhic Conchoille's motion stated: "That Louth County Council is concerned that the Central Bank of Ireland is facilitating the selling of Israeli War Bonds which are funding the genocide in Gaza.

"Louth County Council notes that in January 2024 the International Court of Justice (ICJ) confirmed the plausibility of the charge of genocide against Israel and in June of that year, the UN's International Commission of Inquiry on Palestine found that Israel's actions in Gaza 'constitute war crimes of willful killing and mistreatment, and the crime against humanity of extermination'.

"The following month, in July, an ICJ ruling declared that Israel is committing the crime of apartheid and its entire regime of military occupation of Palestinian territories is illegal and must end immediately.

"All institutions are under a moral and legal obligation under the Genocide Convention, International human rights and CFT legislation, under Irish Human Rights Law and Ireland as a neutral country must not act in any way to facilitate these bonds.

"This Council therefore calls on the Central Bank of Ireland to immediately end the regulation of the Israeli Bond Issuance Programme."

Speaking at the meeting, Cllr Mhic Conchoille said: “this is not simply a matter of foreign policy or financial regulation—it is a matter of human conscience, of international law and of Ireland’s moral standing in the world. Ireland must not be complicit in the funding of war crimes.”

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Cllr Mhic Conchoille described how we are: “witnessing, in real time, one of the most devastating humanitarian catastrophes in recent history. Entire families have been wiped out. Hospitals, schools, and refugee camps have been reduced to rubble. As of this month, tens of thousands of civilians, many of them children, have lost their lives in Gaza.

”In January 2024, the International Court of Justice found the case that Israel is committing genocide to be plausible. In June of the same year, the UN’s Commission of Inquiry confirmed that Israel’s actions constitute war crimes and crimes against humanity, including extermination and the following month of July, the ICJ declared that Israel is committing apartheid, and that its entire military occupation of Palestinian land is illegal and must end.

“These are not fringe opinions,” Cllr MhicConchoille continued. “These are the findings of the most respected international legal institutions of the world and under the Genocide Convention, every country, including Ireland, is obligated not only to avoid being complicit  but to actively prevent genocide.

“The Central Bank of Ireland continues to regulate and facilitate the sale of Israeli War Bonds. These bonds finance the very regime and military operations that the ICJ and UN have condemned in the strongest possible terms.

“It was shocking and disgraceful to discover that Irelands Strategic Investment Fund held Israeli bonds, whose value actually increased from €2 million to over €3 million in 2024. Israel does not hide the fact that its bonds are tied to funding its on-going slaughter in Gaza and both ISIF and the Government were aware of this.

“We would never allow bonds to be sold here funding the Genocide in Rwanda or the ethnic cleansing of Bosnia. Why should we allow it for Gaza? Ireland is a neutral country. But neutrality does not mean silence. Silence is complicity. Inconsistency is hypocrisy. Accountability must be universal.”

Whilst acknowledging that the Central Bank operates independently Cllr Mhic Conchoille pointed out that “independence does not mean immunity from ethical and legal responsibility.

“This is not about politics. It is about people. It is about children buried under rubble. Families grieving in silence. Laws being shattered in broad daylight. What is happening in Gaza is a disgrace to humanity! We must send a clear and principled message: Louth will not remain silent.

"We have a duty to speak out when Irish institutions are complicit - knowingly or unknowingly- in grave breaches of international law. We are calling for compliance with international law and with Ireland’s core values and to stand on the right side of history.”