Irish FM says no doubt recognition of a Palestinian state will happen

By Al Mayadeen English
Source: Agencies
10 Apr 2024 07:49
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The Irish Foreign Minister stresses that it is not credible or tenable any longer to put off the recognition of a Palestinian state.

Ireland's Prime Minister Micheal Martin speaks with the media as he arrives for an EU summit in Brussels, on Thursday, Oct. 20, 2022. (AP)

Ireland will move to recognize a Palestinian state in the coming weeks, Irish Foreign Minister Micheal Martin announced on April 9 in Dublin.

The Foreign Minister revealed that he will submit a formal proposal on recognizing a Palestinian state to the government when “wider international discussions” are complete.

During a speech in the Irish parliament, he said, “Be in no doubt, recognition of a Palestinian state will happen,” emphasizing that delaying recognition “is not credible or tenable any longer."

Martin, speaking with a local news site the Journal, said that the formal proposal will happen “in the next couple of weeks.”

Ireland has long been a staunch supporter of Palestine, and it was the first EU state to call for Palestinian statehood in 1980.

Ireland pulled multimillion-euro investment from six Israeli companies

In one of the latest moves in support of the people of Gaza undergoing genocide, the Irish government withdrew millions of euros of investment from several Israeli enterprises.

The Irish National Treasury Management Agency (NTMA) revealed on April 6 that it had decided to sell about three million euros of its worldwide stock portfolio in the Ireland Strategic Investment Fund (ISIF).

The decision applies to shareholdings of 2.95 million euros in six companies: Bank Hapoalim BM, Bank Leumi-le Israel BM, Israel Discount Bank, Mizrahi Tefahot Bank Ltd, First International Bank, and Rami Levi CN Stores.

According to Irish Finance Minister Michael McGrath, it was the "correct decision" since "the risk profile of these investments" is no longer within ISIF parameters and the commercial objectives of these investments can be achieved via other investments.

He announced that the decision would be implemented "as soon as possible" in upcoming weeks, and ISIF will "keep under review the alignment of relevant investments within its investment parameters and commercial objectives."

"While recognizing the independence of ISIF in the management of the investment portfolio, I believe this is the correct investment decision in respect of the assets it manages on behalf of the State."

The NTMA manages the ISIF on behalf of the state, which includes both discretionary and directed portfolios.

The discretionary portfolio's "double bottom line" mission requires it to invest commercially in ways that boost Irish economic activity and jobs.