Dáil debates

Wednesday, 1 December 2010

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed)

 

5:00 pm

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)

We all hope the deal works and that we will turn this vicious cycle that is working against us, this perfect storm, the other way and create a virtuous cycle. I am concerned that it might not work. At what point after the three-month reviews will it be decided that the deal will not work and that its terms are insufficient? If there must be an orderly restructuring of our debt, what preparatory work has been done and at what point will that option be considered? At what point do we say that, despite having worked with the International Monetary Fund, IMF, and the European Central Bank, ECB, and done our best to deliver on this agreement, it cannot be done and we need to renegotiate and work towards a restructuring?

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