Serious questions must now be asked about the Irish Central bank’s role in the selling of Israeli war bonds, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan said:
“The Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, has refused a request from the Irish Central Bank to extend its role in approving the sale of Israeli war bonds.
“Ireland is a signatory of the Genocide Convention, which obliges us to act if there is a genocide taking place.
“These bonds are being used by Israel to fund the massacre of innocent Palestinians. Despite this, and the overwhelming solidarity of the Irish people, the Central Bank has been facilitating the sale of these bonds.
“The Governor of the Central Bank, Gabriel Makhlouf, has consistently claimed that its role was purely administrative and it did not have the authority to act.
“This portrayal as a powerless bystander has been called into question by the decisive action of the CSSF.
“After significant pressure from the people of Luxembourg, they have ended the temporary arrangement where Ireland passed on approval responsibility.
“If the CSSF can refuse to take part in the sale of Israeli war bonds, then why can’t the Irish Central Bank?
“Last week, in response to my questioning of the Finance Committee, Gabriel Makhlouf cited unpublished legal advice as the reason they could not act.
“This lack of transparency is not acceptable. The legal advice must be made public immediately.
“We have a legal and moral duty to act now. The sale of Israeli war bonds facilitated through Ireland must end.”
July 22nd, 2026