Pádraig Mac Lochlainn (Donegal North East, Sinn Fein)

The Taoiseach and the Minister for Finance, Deputy Noonan, know that regardless of the public position they take, it is profoundly wrong that we are paying over €700 million to the bondholders mentioned today. They know it is absolutely, fundamentally and morally wrong. What is happening today does a total disservice to the people. I will not remind them of what they said before the general election because my party leader has already done so. When the Minister was in New York, he made a dramatic announcement to the effect that the arrangement reached with unguaranteed bondholders would have to be renegotiated and sorted out. That announcement was put to the financial markets while he was in New York, but the renegotiation has not happened.

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