We should also consider that the value of support, present and future, we receive from our European partners far outweighs any short-term gain from imposing burden sharing on these bonds in the face of European opposition to such a move. For example, €110 billion is being provided by the ECB and the Central Bank of Ireland for the Irish banks at a cost below which they could borrow in the market. This support is in addition to the €67.5 billion provided by the troika for the funding of public services, including social welfare, pension, health and education services. Would those Members across the House forgo these essential funds? How do they propose to pay for these services without the assistance of the troika?

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