Latest news with #GaryGannon
The Journal
5 days ago
- Business
- The Journal
Gary Gannon launches legal action against Central Bank over approval of Israeli bonds
SOCIAL DEMOCRATS TD Gary Gannon has launched legal proceedings against the Central Bank of Ireland over claims that investors in Israeli bonds could be legally complicit in genocide in Gaza. Lawyers for Gannon lodged legal papers against the Central Bank in Dublin this afternoon. The Dublin Central TD alleges that the Central Bank's failure to ban the marketing, distribution and sale of Israeli bonds exposes investors to risks that have not been disclosed to them. Israeli State Bonds have been advertised as a method to support the country's economy and, more recently, websites promoting the investments have emphasised their importance to Israel's military operations in Gaza. Some TDs, as a result, have dubbed the securities as 'Israeli war bonds'. Speaking today, Gannon said the case asks whether Ireland's financial regulatory system 'can remain silent'. 'The Taoiseach has said clearly in the Dáil that what's happening in Gaza is genocide. Arrest warrants have been issued by the International Criminal Court. These are not distant issues – they raise urgent legal and moral questions for Ireland.' he said. 'These bonds are not neutral financial instruments. They are a funding pipeline for a military campaign that includes the bombardment and starvation of thousands of civilians. Letters, seen by the PA news agency, sent to Central Bank governor Gabriel Makhlouf in recent weeks by McGarr Solicitors, acting on behalf of Gannon, claim that these risks were not made known to investors in prospectuses for bonds, which had been approved by the Central Bank. The letter warns Makhlouf that the 'continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate the same'. Today, @GaryGannonTD submitted his case against the Central Bank, which aims to end the facilitation of the sale of Israeli war bonds. The sale of these bonds goes against EU and international law. We need to ensure that "never again" means never again. — Social Democrats (@SocDems) July 24, 2025 It goes on to say that the Central Bank is empowered under EU law to prohibit the marketing, distribution or sale of the Israeli Bonds. 'We call upon it to do so,' the letter adds. There have been ongoing calls for the Central Bank to end its role in approving Israel Bonds for sale in the EU. Advertisement The bank is the designated authority in relation to the sale of Israel bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. Last month, the government rejected a joint-proposal from the opposition which called on the Central Bank to stop facilitating the sale of Israeli bonds within the EU. The motion, put forward by the Social Democrats and supported by Sinn Féin, People Before Profit and the Labour Party, sought the reversal of a previous government decision to block a bill calling for the same measure in May . Gannon issued the letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said that there is 'no valid legal basis' to support Gannon's purported judicial review proceedings. They claimed that Gannon lacked the right or ability to bring the proceedings and that the bank is satisfied it does not meet the relevant criteria to exercise its powers under EU law. The letter also claims that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. However, Gannon said the Central Bank has the power to stop the sale of the bonds. The judicial review was formally issued this afternoon. Gannon said the Central Bank has the power under Article 42 of EU Markets in Financial Instruments Regulation to prohibit the sale of bonds that pose serious investor protection risks. He asked: 'If financing a regime accused of genocide doesn't meet that threshold, what does?' 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Irish Times
5 days ago
- Business
- Irish Times
TD Gary Gannon files legal proceedings against Central Bank over Israeli bonds
Social Democrat TD Gary Gannon has filed legal proceedings against the Central Bank over its role in facilitating the sale of Israeli bonds on the European market. McGarr Solicitors lodged papers with the High Court on behalf of the Dublin Central TD on Thursday. Mr Gannon is seeking a court order requiring the Central Bank to exercise its powers under European regulations to prohibit the marketing, distribution or sale of bonds issued by the state of Israel. Court papers show he is also seeking an order requiring the bank to 'properly consult' with the 'competent authorities in other member states that may be significantly affected by the action'. READ MORE In a draft affidavit to the court Mr Gannon said he believes and is advised that the investors in, and holders, purchasers and sellers of Israeli bonds risk being 'complicit in genocide, with various implications for them'. [ Israeli bond investors risk complicity in genocide, TD claims in letter to Central Bank governor Opens in new window ] There have been ongoing calls for the Central Bank to end its role in approving Israeli bonds for sale in the European Union. The bank is the designated authority in relation to the sale of Israeli bonds in the EU. The Central Bank's governor, Gabriel Makhlouf, told the Oireachtas Finance Committee last month that Israel has raised between €100 million and €130 million from the bonds. He said the Israeli government website marketing its 'war bonds' had stated it had sold bonds worth €5 billion. He said the EU accounted for only a fraction of that, with the US accounting for the bulk of it. On what the bank can and can't do, he said: 'The Central Bank cannot decide to impose sanctions for breaches or alleged breaches of international law. It is for international bodies such as the UN or the EU to determine how to respond to breaches or alleged breaches of international law.' Mr Gannon issued letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said in a letter that there is 'no valid legal basis' to support Mr Gannon's purported judicial review proceedings. It claimed that Mr Gannon lacked the 'necessary locus standi' or right to bring the proceedings, and said the bank was satisfied it did not meet the relevant criteria to exercise its powers under EU law. The letter also stated that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. [ Central Bank's role in approving Israeli bonds can be traced back to Brexit Opens in new window ] Commenting on the action, Mr Gannon said: 'These bonds are not neutral financial instruments. They are a funding pipeline for a military campaign that includes the bombardment and starvation of thousands of civilians. 'While this is a technical case grounded in EU investor protection law, the issues at stake are deeply moral and ask whether our laws, Irish, European, and international, have the capacity to respond to that reality.' He added: 'If financing a regime accused of genocide doesn't meet that threshold, what does?'
Irish Examiner
5 days ago
- Business
- Irish Examiner
Legal action launched against Central Bank over Israel bonds investments
A Social Democrats TD has launched legal proceedings against the Central Bank of Ireland over claims that investors in Israeli bonds could be legally complicit in genocide in Gaza. Lawyers for Gary Gannon lodged legal papers against the Central Bank in Dublin on Thursday. It is alleged that the Central Bank's failure to ban the marketing, distribution and sale of Israeli bonds exposes investors to risks that have not been disclosed to them. (The) continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate same Letters, seen by the PA news agency, sent to Gabriel Makhlouf, the governor of the Central Bank, in recent weeks by McGarr Solicitors, acting on behalf of Mr Gannon, claim that these risks were not made known to investors in prospectuses for bonds, which had been approved by the Central Bank. The letter warns Mr Makhlouf that the 'continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate the same'. It goes on to say that the Central Bank is empowered under EU law to prohibit the marketing, distribution or sale of the Israeli Bonds. 'We call upon it to do so,' the letter adds. There have been ongoing calls for the Central Bank to end its role in approving Israel Bonds for sale in the EU. The bank is the designated authority in relation to the sale of Israel bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. 'Politicians have spoken too long, all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act Mr Gannon issued the letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said that there is 'no valid legal basis' to support Mr Gannon's purported judicial review proceedings. They claimed that Mr Gannon lacked locus standi to bring the proceedings and that the bank is satisfied it does not meet the relevant criteria to exercise its powers under EU law. The letter also claims that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. However, Mr Gannon said the Central Bank has the power to stop the sale of the bonds. The judicial review was formally issued on Thursday afternoon. Speaking at a pro-Palestinian rally on Saturday, Mr Gannon said: 'Politicians have spoken too long, all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act. He added: 'On Tuesday, I'll be lodging papers against the Central Bank. Genocide can never be considered a technical matter – our only duty is to prevent it and punish those responsible.' Read More EU agrees €93bn worth of counter tariffs against the US if trade talks fail
BreakingNews.ie
5 days ago
- Business
- BreakingNews.ie
Legal action launched against Central Bank over Israel bonds investments
An politician has launched legal proceedings against the Central Bank of Ireland over claims that investors in Israeli bonds could be legally complicit in genocide in Gaza. Lawyers for Social Democrats TD Gary Gannon lodged legal papers against the Central Bank in Dublin on Thursday. Advertisement It is alleged that the Central Bank's failure to ban the marketing, distribution and sale of Israeli bonds exposes investors to risks that have not been disclosed to them. Letters, seen by the PA news agency, sent to Gabriel Makhlouf, the governor of the Central Bank, in recent weeks by McGarr Solicitors, acting on behalf of Mr Gannon, claim that these risks were not made known to investors in prospectuses for bonds, which had been approved by the Central Bank. The letter warns Mr Makhlouf that the 'continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate the same'. It goes on to say that the Central Bank is empowered under EU law to prohibit the marketing, distribution or sale of the Israeli Bonds. Advertisement 'We call upon it to do so,' the letter adds. There have been ongoing calls for the Central Bank to end its role in approving Israel Bonds for sale in the EU. The bank is the designated authority in relation to the sale of Israel bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Advertisement Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. Mr Gannon issued the letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said that there is 'no valid legal basis' to support Mr Gannon's purported judicial review proceedings. Advertisement They claimed that Mr Gannon lacked locus standi to bring the proceedings and that the bank is satisfied it does not meet the relevant criteria to exercise its powers under EU law. The letter also claims that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. However, Mr Gannon said the Central Bank has the power to stop the sale of the bonds. Ireland Demolition of Smyth's pub in D4 gets go-ahead desp... Read More The judicial review was formally issued on Thursday afternoon. Advertisement Speaking at a pro-Palestinian rally on Saturday, Mr Gannon said: 'Politicians have spoken too long, all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act. He added: 'On Tuesday, I'll be lodging papers against the Central Bank. Genocide can never be considered a technical matter – our only duty is to prevent it and punish those responsible.'
BreakingNews.ie
20-07-2025
- BreakingNews.ie
3 babies born to inmates in Irish prisons and 19 pregnant women jailed to date in 2025
Three babies have been born to inmates at the Dóchas Centre women's prison in Dublin and Limerick's women's prison to date this year, new figures show. According to the new figures provided by the Minister for Justice, Home Affairs and Migration, Jim O'Callaghan TD, four infants aged under 12 months, three at Dóchas and one at Limerick - have been accommodated with their mothers at the female prisons to date this year. Advertisement This followed three infants being accommodated with their mothers at Dochas Centre only in 2024. The three babies born to inmates across the Irish prison estate this year follow four babies born to inmates in 2024. This followed no babies born to prison inmates in 2023 and 2022 and there was only baby born to a woman jailed at Dóchas Centre prison at the time during 2021 and 2020. In written Dail replies to Deputies Gary Gannon TD and Matt Carthy TD, Minister O'Callaghan confirmed that two babies have been born to inmates at Dóchas Centre to date this year and one baby to an inmate at the 50-capacity Limerick's women's prison. Advertisement In the replies, Minister O'Callaghan also reveals that in 2025, 19 pregnant women have imprisoned at Irish prisons - 13 at Dóchas and six at Limerick. This followed 27 pregnant women being jailed last year - 22 at Dóchas and five at Limerick and the 27 total was more than double the 12 total for 2023. In his reply Minister O'Callaghan told the two deputies: 'I can confirm that there are currently no pregnant women remanded to custody within the Irish Prison Estate.' He said: 'Pregnant woman in custody are provided with as much privacy as possible and are accommodated in single occupancy rooms.' Advertisement He said that in accordance with prison rules 'a child may remain in the care of their mother in prison, until the child has reached twelve months of age' He added that, in the Dóchas Centre, mothers and babies are accommodated in single occupancy double rooms. 'These rooms are on a small landing which is shared with enhanced status prisoners. Work is commencing in relation to additional, bespoke rooms for mothers and babies in the Dóchas Centre.' 'Limerick Women's Prison does not have a separate building for women with children, however the women and their babies are accommodated in 'independent style apartments'. Advertisement 'Each has their own individual apartment. This overall area is not specifically for women with babies and may house other prisoners deemed suitable to live in these "independent style apartments'. O'Callaghan said that, in relation to the health and safety of pregnant women in custody, the Irish Prison Service has developed and apply bespoke risk assessments to both pregnant women and to mothers and babies who are in their custody. 'These risk assessments inform strategies which support managing the health and safety of pregnant women, and mothers who have given birth to babies whilst serving prison sentences, within the prison environment.' He said that the Irish Prison Service employs a National Family Connections Officer and Iin May 2025 this officer established a multi-agency working group to review Protocols and update the Irish Prison Service Mother and Baby Policy to ensure best practice for the care and support of mothers and babies in custody. Advertisement He said: 'This work is currently at scoping stage.' Minister O'Callaghan said that 'the level of maternity care and supports provided to women in custody, is comparable to that available to women in the community'. Ireland Private properties used to house Ukrainian refugee... Read More "Primary care nursing is provided in female prisons on a 24/7 basis, 365 days a year. Doctor services are available Monday to Friday 9-5, with locum services available at the weekends. "Due to the specific needs of a number of the women who are pregnant, specialist HSE services have a very close and responsive working relationship with both prison management and the prison healthcare team. 'Most pregnant women receive all their antenatal care external to the prison, in routine antenatal clinics in the local HSE maternity hospital. When needed and in cases of emergency, specialist midwives will attend the prison; however, this is not a common occurrence.' He added that 'expectant mothers are always facilitated to have their children born in hospital'.
