Gerry Adams (Louth, Sinn Fein)

This is a fundamental question concerning sovereignty. One reason the Economic Management Council has nothing to discuss is because it has ceded so much economic power to the European Union and International Monetary Fund. It is very clear that the Government is standing with the bankers. Has it taken the opportunity, given what is happening in the eurozone and the crisis, to tell the relevant authorities it will not pay the €31 billion to Anglo Irish Bank and Irish Nationwide? The Government is committed to pay €7 million on 2 November. This would build approximately 200 schools or create 8,000 jobs. I do not understand it. Last week, I was in New York and met very senior Wall Street stockbrokers who were astounded the Government was not burning the bondholders and that it pays all of this money to a toxic bank. These people trade in their sector. As we see the eurozone crisis deepening, is it not time for the Taoiseach to seize the moment and for once stand up and state we will not pay the money? The Government is committed to removing €3.6 billion from the budget and at the same time will give €3 billion to Anglo Irish Bank. What does the Government owe Anglo Irish Bank?

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