Séamus Healy (Tipperary South, Workers and Unemployed Action Group)

As I have said before in the House, the EU and IMF are not good samaritans helping out a country in need. They are ripping off this country to pay for the reckless lending of European, particularly French and German banks. The major European powers have insisted that the liability of Irish banks be absorbed into Irish State or sovereign debt.

The very wealthy in all eurozone countries indulged in an orgy of reckless lending, borrowing and fraudulent financial transactions. Now Ireland and other so-called programme countries, which are deeply indebted, are being unfairly burdened with the consequences forever under this imperialist treaty. Since coming to power, the Government has claimed its austerity programme is designed to "restore economic sovereignty". The same Government is now giving away our economic sovereignty forever. Most commentators agree that under this treaty Ireland will be in the equivalent of an EU-IMF programme in perpetuity.

To make matters worse, the Government, like its Fianna Fáil and Green Party predecessor, is determined to place the entire burden of debt and fiscal adjustment on those on low and middle incomes, while huge personal assets remain untaxed and the very wealthy do not pay their fair share in taxation. It goes without saying that there should and must be a referendum before any such treaty is ratified. Basic patriotism and loyalty to the interests of the Irish people should require any Irish public representative to call for a "No" vote. It is clear Ireland can stay within the European Union while rejecting this treaty, as the United Kingdom has done.

It is interesting to note that not a single Labour Party Deputy is in the House for this important debate. It is shameful that it should agree to handing over Irish sovereignty to new and old imperialist powers. It claims James Connolly as its founder. He advocated the reconquest of Ireland by its own people and the wrenching of economic and political sovereignty from foreign landlords and capitalists. Now the Tánaiste, Deputy Gilmore, has rejected Connolly by consigning this country to economic servitude to major international capitalists forever. The replacement of the Labour Party is a matter of the utmost urgency and importance.

I want to put on record my support and that of the United Left Alliance for the initiative of the Technical Group in petitioning the President, Michael D. Higgins, to refer any Bill which might arise for consideration by way of referendum by the people.

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