Donegal Council votes to end sale of Israeli war bonds through Irish Central Bank

Donegal County Councillors have unanimously voted to call for an end to the sale of Israeli war bonds through the Irish Central Bank.

The Irish Central Bank has overseen the sale of Israeli war bonds since 2023.

Independent Councillor Declan Meehan raised a motion on the matter at Monday’s plenary meeting.

Cllr Meehan said: “These bonds are bringing in around one billion dollars a year. Since October 7th 2023 this has trebled to three billion dollars per annum.”

In presenting the motion, he outlined how “the Central Bank of Ireland is regulating the Israel Bonds Issuance Programme and, thereby, facilitating the sale throughout Europe of bonds which are funding genocide in Gaza.”

He said that, “the bonds, known as Israel Bonds, have, since 1951, raised funds for the Israeli Treasury for use across the Israeli economy including the financing of the apartheid system, the Israeli military and illegal settlements.”

He added: “the bonds are now being advertised as war bonds and are funding the genocide in Gaza.”

Cllr Meehan went on to outline the legal case against Israel noting that, “in January 2024 the International Court of Justice (ICJ) confirmed the plausibility of the charge of genocide against Israel. In June 2024 the UN’s International Commission of Inquiry on Palestine found that Israel’s actions in Gaza ‘constitute the war crimes of wilful killing and mistreatment, and the crime against humanity of extermination’. Then in July 2024 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. The ruling also stated that all institutions are under obligation under international law to prevent genocide and abuse of human rights.”

The motion stated that the “Council is gravely concerned that the Central Bank of Ireland is regulating the Israel Bonds Issuance Programme and, thereby, facilitating the sale throughout Europe of bonds which are funding genocide in Gaza. The Council believes that the Central Bank of Ireland must end all complicity in genocide. Council, therefore, calls on the Central Bank of Ireland to immediately end the regulation of the Israeli Bond Issuance Programme.”

Cllr Meehan added: “This is, I think, a simple thing for the Central Bank of Ireland and government to address. We need to take every step possible as a country to cut all ties with any complicity in genocide at the hands of the Israeli occupation forces in Palestine.”

Following the passing of the motion, Cllr Meehan asked that it be sent to the Minister for Finance, to the Central Bank of Ireland, and all other local authorities in Ireland.

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The Donegal Branch of the Ireland Palestine Solidarity Campaign (DIPSC) welcomed the passing of the motion.