Éamon Ó Cuív (Galway West, Fianna Fail)

Questions have been asked that are not relevant to the amendment. There will be no benefit to judges or public representatives.

Sovereign bonds are issued by the Government and are perfectly safe. The Government has been at pains to state that there is no circumstance under which we will renege on sovereign debt. That is the right policy because that certainty allows us to do things such as we are proposing here today.

Pension funds do not have to buy into this. Deputy Shortall asked if pension funds could buy Greek bonds. In theory, one can buy whatever one wants, but there are rules in relation to the Pensions Board, insuring good practice and so on. Pension funds can buy European bonds and they have been buying German and French bonds. They can buy non-Irish bonds.

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