Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)

This is an outrageous situation. Over the term of the loan, and if it is drawn down in full, a further burden of €5 billion will be placed on the Irish people. This money will go directly back to the EU member states, principally Germany and France.

We are told this additional 3% has the approval of the eurozone Finance Ministers. When did such a meeting take place? Was the Minister for Finance in attendance? Did he accede to this further 3% penalty being applied to the overall loan from that particular mechanism within the deal? What steps were taken to oppose this, if any?

This mark up is unique to Ireland. The Taoiseach cannot get away from the fact that none of this applied to EU supports for other countries, such as Latvia, Romania and Hungary. He says it will apply in every other case from here on. What has he done to resist it applying in Ireland's case? We are not a unique or special case. The difficulties presented here are particular to us, but difficulties have presented in other economies too. We want to know why the Taoiseach has signed off on such a damn bad deal for the Irish people.

If the Dáil approves this deal, the Irish people will be burdened with a massive debt to bail out banks and bond holders.

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