Gerry Adams (Louth, Sinn Fein)

As the Taoiseach has heard me say before, I do not understand his negotiating strategy, although I have tried hard. I do not think Fianna Fáil has much credibility on this issue, but that is scéal eile. When Fine Gael was in Opposition, he was quite rightly against this deal. What are his objectives? He has set them in broad-stroke terms. Since he came into Government, every time he goes to a summit or mentions the EU-IMF deal he says he is for the deal. He says the Government is committed to it and that we are paying our way. How on earth does he intend to catch their attention? This focus on the interest rate, welcome though it may be if and when we get a reduction, is similar to the fable of the emperor's new clothes. The fact is that our partners are imposing a hefty 3% surcharge on their lending to Ireland which, according to figures from the Minister for Finance, will cost the Irish taxpayer €3.4 billion for every percentage point. It does not add up. It is absolutely crazy. It does not work out in any economic or financial configuration.

The social consequences of this deal are dreadful. Sometimes when one listens to the rí rá here as Deputies heckle and barrack, one would think they had lost sight of what is happening out there in communities, hospitals and schools.

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