Paul Gogarty (Dublin Mid West, Green Party)

Given the fact that we were bullied by our European partners into a bailout - that is a hard and fast fact at this stage - and negotiated a 5.8% deal which the Opposition claims it might have been able to reduce by a few notches, the reality is that one way or another if we did not get this bailout we would have been crucified on the bond markets. What the Presentation sisters are saying in essence is that if Ireland defaults and we have to go into an Argentinian-type situation then wages will fall by 60% or 70% overnight. That will be when the ATMs will start operating again. It took Argentina six or seven years to get back on its feet and Argentina is a larger country than we are. If we were to default outside of a European-wide context we would be totally knackered as a country. In that space we must look at why it is important to have the four-year plan-----

See this speech in context