Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

We do not have to rely on theory any more. We are not talking about the fiscal rules. There were five programme countries in Europe and four of them, Ireland, Cyprus, Spain Portugal, applied the fiscal rules. They are all growing rapidly and putting on a lot of extra jobs. One country, Greece, did not apply the fiscal rules and it is still mired in the difficulties it was in, having been the first to go into a programme. The model advocated by the Deputy was tried in Greece.