Luke Flanagan (Roscommon-South Leitrim, Independent)

What have we got from the "Yes" victory? For a long time, opponents of the euro have been saying we are locked into the same interest rates as Germany and that when we need low interest rates, Germany may not need low interest rates, and vice versa. That situation, along with lack of regulation, caused many of our problems. News is coming through today that the ECB intends to leave interest rates at the same level. Who is this for? Is it for us, who need lower interest rates? It obviously is not. Is it for Germany again, which does not want lower interest rates because its economy is booming and chugging along nicely? What are we getting out of this, when did the Government change its mind and who benefits from maintaining interest rates at their current level? The Government told us the treaty would be a good thing for us. It obviously is not.

See this speech in context