Micheál Martin (Cork South Central, Fianna Fail)

Debt sustainability is at the core of solving the crisis. Reductions in the interest rates, which were agreed at the start of the year, are finally being fully implemented. They are welcome but there remains the issue of outstanding debt. If discussions are taking place about writing down sovereign Greek debt, there should be no problem with doing the same for non-sovereign and unsecured bank debts. That goes to the core of the issues.

The European Central Bank stopped us doing this last year because of supposed contagion risks.

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