Paul Murphy (Dublin South West, Socialist Party) | Oireachtas source

I would like to explore the question of a euro exit by Greece. The idea that a good deal for the Greek people will be done is ruled out and so there are two options remaining, which is a bad deal that contains a commitment to discuss something in terms of debt but slightly further down the line and austerity measures. If these are the two options open to Syriza and the Greek Government they would be better off exiting the euro. I would like to discuss how that could be managed. Greece had a trade surplus last year. Figures for the last month available show a slight trade deficit. There is no question but that what is open to Greece is that of a parallel currency and a period of turbulence in terms of its economy. Given Greece has a primary balance, is no longer dependent on the ECB, which means it can burn bondholders left, right and centre and that ECB will not get a penny of its ELA back, and it can write off a huge portion of its national debt, which gives it €20 billion to pay this year in terms of repayments and interest, is it not possible for the Greek Government to take steps over a period to stabilise the currency? This would free up space for the Greek economy, thereby giving it a chance of recovery outside of the eurozone.