Catherine Murphy (Kildare North, Independent) | Oireachtas source

Some of it is true, but there is a sin of omission as the Government never gives the other side, which is that the level of indebtedness in this country continues to be completely unsustainable.

On the so-called prom night in February we were told, for example, by the Minister for Finance that it was crucial for IBRC mortgage holders to understand that their position following the liquidation would generally remain unchanged. Now we have been told, in a reply to a parliamentary question to the Minister, that this will depend on the regulatory status of the ultimate acquirer of the IBRC loan book.

The Government is asking us to endorse the decision on the exit without an insurance policy, and I accept this as a judgment call. My problem is that we have been told that this will restore our economic sovereignty, but it will do no such thing. Economic sovereignty is about permanent control of finances, and how can we have that when we have such unsustainable debt?

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