Michael McGrath (Cork South Central, Fianna Fail)

Everyone accepts that there is no difficulty in making changes which are fiscally neutral. The troika will not have a difficulty with this. However, the Minister is on record since November last as saying this is a bad deal for Ireland. The question now is how does he intend to improve what he regards as a bad deal for Ireland. The changes made which I have summarised do not reduce in any way the cost of the deal to the State. The Minister said he would be in a position to negotiate these changes, yet he has not done so or taken the opportunity on the floor of the House today to indicate the issues on which he intends this week to seek renegotiation. Perhaps he might also take the opportunity today to advise the House whether an interest rate reduction will remain a live issue during the summer months or if we are unlikely to see any movement this side of the autumn.

See this speech in context