In a huge victory for the Palestine solidarity movement and the mass civil, political and legal campaign against Israel Bonds, the Development Corporation for Israel (DCI) has been unable to get authorisation to sell its bonds in the EU . In an unprecedented disruption to its fundraising pipeline in the EU, Israel has been blocked from selling these genocide-funding bonds since 1 September.
Today, after weeks of silence and stonewalling , refusing to answer questions from both journalists and the Oireachtas Finance Committee, Central Bank Governor Gabriel Makhlouf today confirmed, in an interview with David McCullough on RTE Radio 1, that the Central Bank has not received a prospectus from DCI, the issuer of Israel Bonds.
A campaign of pressure from the solidarity movement, from the streets, parliaments, civil society organisations, trade unions, artists and local authorities in Ireland and Luxembourg, expert legal opinion, local and international, and legal action has forced Israel to not seek approval from the CBI, or to request it to transfer the prospectus .
IPSC Chairperson Zoe Lawlor said: “Together we have kicked Israel Bonds out of the EU! This is an historic victory and we salute all involved, especially the IPSC activists who have dedicated so much to this huge win. The campaign to end the complicity of state institutions in enabling Israel to raise funds for genocide, apartheid and atrocity crimes against the Palestinian people is helping to finally end Israel’s impunity. There can be no business-as-usual for the genocidal apartheid state of Israel – and we in the IPSC will not rest until Palestinians enjoy freedom, justice, equality and return!”
Background
Last year, the DCI was forced to seek the transfer of the bonds out of Ireland, to the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. Approval by CSSF was met with strong opposition in Luxembourg which led to the decision, announced publicly by the Finance Minister Gilles Roth on 21 July, and communicated to the CBI in May, not to accept a second transfer and to end all involvement with Israel Bonds on 31 August. Israel, and the CBI, have known for months that Luxembourg would not approve the bonds again.
The scale of this defeat for Israel is significant. According to the DCI, Israel Bonds rank “ among Israel’s most valued economic and strategic resources, with a record of proven success. ” It describes the bonds as “ a reliable and independent financial pipeline – is an invaluable and strategic national resource.”
That pipeline stands disrupted!
The DCI website goes on: “Each and every Israel Bond investment has the added value of sending an unmistakable message to BDS advocates: Israel’s economy will remain strong.” This disruption – the fact that Israel could find no country to approve the sale of Israel Bonds between May and now – is a huge and significant victory for the Boycott, Divestment and Sanctions movement!
If the Development Corporation of Israel stops selling bonds under €1000 it may seek to find a new “home member state” for its genocide-funding Israel Bonds. If it does, rest assured it will be met by opposition at every turn, supported from Ireland, Luxembourg and globally.
The post BDS Victory: Genocide-funding Israel Bonds Kicked Out of the EU! appeared first on Ireland Palestine Solidarity Campaign .
BDS Victory: Genocide-funding Israel Bonds Kicked Out of the EU!
Aggregated summary from an independent source. Read the original at IPSC.