Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Deputy Doherty will be well aware that I do not have available to me the deficit trajectory that Italy might need to follow in those circumstances. In evaluating the point that the Deputy is making, it is worth emphasising that the Government of the same country, Italy, is committed to the ratification of this treaty too.

All the countries that the Deputy has named that are currently in excess of the SGP have all signed up to ratify this treaty and their Ministers are currently doing what I am doing. Why is that? Why would a Finance Minister, who understands the debt dynamics of his or her own country in a way that is superior to how the Deputy and I would, sign up to ratify this treaty? The reason they will sign up to ratify this treaty is because of the answer I have given the Deputy, which is an expectation that when the debate on the future of the SGP concludes, it will have a parallel effect on the operation of this treaty. That is the expectation that all governments which are committed to the ratification of it have.