Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

I welcome the opportunity to speak in this debate. Before I came into the House, I was listening to the contributions of many Deputies. I also looked back over some of the debates on the ECB-IMF deal when it was being negotiated in November-December 2010. I read the contributions of some of the main Opposition spokespersons at the time in the Official Report. What was said then and what has transpired are, at best, at variance. It is timely that I record that I have more at stake as a citizen and parent in this country to see that the Government succeeds than I do as an Opposition Deputy to see that it fails. My starting point is I hope the Government succeeds. I hope its decision is the correct one. Seeking a precautionary credit line would have been a prudent step, but that is a decision the Government made. As Deputy Dara Calleary said, I would have liked to have seen the evidence on which the Government had based its decision not to opt for a precautionary credit line. What were the conditions? Were they too onerous? Were the interest rates too high? What was the downside in going for a precautionary credit line?

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