Dáil debates

Tuesday, 5 April 2011

Bank Bailout and EU-IMF Arrangement: Motion

 

3:00 pm

Photo of Robert DowdsRobert Dowds (Dublin Mid West, Labour)

Like other Members of Dáil Éireann, I agree with much of the thrust of this Private Members' motion, although I do not see the value of holding a referendum. The general election gave an answer to the previous Government's handling of the nation's economic affairs, be that the failure to engage in the EU-IMF discussion process or the bank bailout. The general election brought out the public's views in this regard.

While canvassing on the doorstep, I made it clear to people that there would be no easy fix for this crisis and that it would take a long time to sort out. This got a positive response. Had I said anything else, I would not have been believed. I am glad I did this and that the new Government has made honesty its modus operandi with the public, as the scale of the challenge is of such monumental proportions. Unquestionably, the essential next step is to persuade our EU partners to lift some of the burden from our shoulders. Most if not all Deputies believe this to be an imperative, but the difference in the ways to go about it is the reason I will not support the motion.

The extent of the task before us is best seen through two examples. First, there is anger among our European partners at the previous Government's attempts to deal with the crisis, in particular the lack of consultation on the bank bailout. Second, Ms Catherine Day, the Irish born head of the civil service element of the European Commission, stated: "The responsibility for the Irish debt crisis rests primarily in Ireland". Her comments show the amount of work we have to do.

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