Billy Kelleher (Cork North Central, Fianna Fail)

Last week, one of the biggest lies perpetrated against the Irish people was revealed by the issuance of €720 million to unsecured and unguaranteed bondholders. The most interesting aspect is that the markets believed it would be paid. The markets considered those Deputies who, prior to the election, claimed they would not pay bondholders if they got into government and backed them to buckle under the pressure of the ECB and the EU and pay. The markets have proven right. That side of the House did not have the spine to stand up to the ECB in support of the pledges the Government made to the people.

See this speech in context