John Paul Phelan (Carlow-Kilkenny, Fine Gael)

I am glad to have an opportunity to speak in support of the introduction of the Bretton Woods Agreements (Amendment) (No. 2) Bill 2011. I would like to make a few points in response to Deputy Boyd Barrett, who spoke as usual with great passion. I disagreed with virtually everything he said. He made the point that no concrete evidence was produced when he asked people about our growth projection figures for 2013 and beyond. Perhaps his mind is so clouded with conspiracy theories that he fails to realise one cannot have concrete evidence of predictions for growth two or three years into the future. Concrete evidence does not exist in those circumstances. A prediction is a prediction. Economists are often wrong. In this country, economists in the Department of Finance and elsewhere have been wrong over the years. Similarly, economists in the IMF and in other countries in Europe and across the world have been wrong.

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