Demonstrators Urge Central Bank to Refrain from Renewing Israel Bond Issuance
Ireland's Central Bank Under Pressure to Halt Israel Bond Sales
A growing campaign is urging the Central Bank of Ireland to refuse the sale of Israel bonds, citing human rights concerns and allegations of complicity in supporting Israel's military operations in Gaza. The campaign has gained momentum with large-scale protests, political calls, and legal proceedings.
Protests and Public Pressure
On August 26, 2025, several hundred people protested outside Irish government buildings, demanding the Central Bank stop approving Israel Bonds. Speakers at the protests highlighted the humanitarian crisis in Gaza and called for sanctions against Israel, emphasizing Ireland's legal obligations under the Genocide Convention.
Political Calls
Labour TD Ciaran Ahern publicly urged the governor of the Central Bank, Gabriel Makhlouf, to refuse the renewal of the prospectus for Israel Bonds. Sinn Féin and trade unions also condemned the Central Bank’s role and called for stronger government action beyond symbolic statements.
Central Bank Position
The Central Bank maintains that its role is regulatory, limited to approving prospectuses that meet the EU's standards for completeness and clarity, without making political judgments on the bonds themselves.
Government Stance
The Irish government has committed to banning goods from occupied Palestinian territories, with some calls to extend this ban to services. The Tánaiste (Deputy Prime Minister) Simon Harris has described collective EU action against Israel as overdue and supports stronger measures.
Upcoming Decision
The prospectus for Israel Bonds is due for renewal on September 2, 2025. Activists and opposition politicians are mounting significant pressure ahead of this date to influence the Central Bank’s decision.
Legal Proceedings
Social Democrats TD Gary Gannon has launched legal proceedings against the Central Bank of Ireland, alleging that investors in Israeli bonds could be legally complicit in genocide in Gaza.
The Protesters' Demand
About 100 demonstrators gathered to demand an end to the Central Bank's role in approving Israel bonds for sale in the EU. They are urging the Central Bank of Ireland not to proceed with the approval for the sale of Israel bonds.
Ireland's Obligation under the Genocide Convention
The protesters argue that Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. Donnchadh Ó Laoghaire added that the people of Gaza and Palestine need Ireland to act.
Ireland's Role as Designated Authority
The Central Bank of Ireland is the designated authority in relation to the sale of Israel bonds in the EU. The campaigners claim that by facilitating the sale of these bonds, the Central Bank is complicit in supporting Israel’s military operations in Gaza and violating human rights.
As of late August 2025, no formal change in the bank's stance has been announced, but the campaign continues to gather steam, with the prospectus renewal date fast approaching.
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