Jerry Buttimer (Cork South Central, Fine Gael)

Sorry, a Cheann Comhairle.

The Minister used the word "reform" in his speech, and he was right. Political reform in Europe is necessary and that is why it is important that we are playing a central role within Europe. I commend the Taoiseach, the Minister of State, Deputy Creighton, and the Minister for Foreign Affairs and Trade, Deputy Gilmore, on the role they have played in Europe in the past couple of months. Stability, a Common Market, and unity are what this Bill is about, and what Europe should be about. Deputy Donohoe talked about the law being passed. We have an obligation to obey the law. We cannot just break the law, and we cannot just walk away from our responsibilities. Those who attempt to do that are not serving Europe or Ireland well.

The other important point from the Minister's speech was about the reduction in interest on our loans from the IMF, which is important. We are seeking to return to the markets, although we require assistance now. The global economy is in a state of peril, which has implications for us. There is an analogy to be made with the board of governors. We must adhere to regulations. The Members opposite wear seatbelts in cars, as we do over here. They do not break the speed limit or drink and drive. Equally, when it comes to our affairs in Europe, we should adhere to regulations. I welcome the Minister's comments. We have an obligation to pay our debts. There is a good debate going on about the issue of sovereign debt and other debt, but as a nation, we should pay our sovereign debt. In saying that, I must say that the initial interest payment was too high, and I commend the Taoiseach and the Minister for Finance on reducing that through negotiation with the troika.

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