Dáil debates
Wednesday, 1 February 2012
European Council Meeting: Statements
10:30 am
Lucinda Creighton (Dublin South East, Fine Gael)
I accept the point Deputy Mathews makes. I absolutely appreciate there is a concern that debt sustainability was not a featured item on the agenda at the summit on Monday. However, it has been featured at numerous summits in recent months. There was a decision by Heads of Government that on this occasion the focus would be on two issues, the first being finalising the text of the fiscal compact. The Deputy may not agree with it but that is the decision they took. The other was to focus primarily on the issue of jobs, growth and exploring various ways in which the institutions of the European Union might be used to assist member states in their efforts. These include, for example, ways in which the European Investment Bank could be leveraged in order to work with member states to develop opportunities in investment and infrastructural projects and so on. That is something our Government is exploring in some detail.
The Commission proposal on project bonds, for example, is a matter the Government is discussing and specific Departments have been charged with investigating and identifying specific opportunities for Ireland. There are a number of positive outcomes from the summit. The issue of the sustainability of Ireland's debt, as Members know, is under discussion with-----
Robert Browne
Posted on 3 Feb 2012 12:16 am (Report this comment)
Deputy Creighton, I find your contribution to this debate to be nothing more than sound bites. I very much regret that you obviously do not understand what deputy Matthews is saying and I also despair that your party leader fails to understand that the debt of this country when aggregated is over 623% of GDP. Roughly twice that of Greece. The fact that we have failed to convey even a basic level of alarm surrounding the unsustainability of debts sustained on behalf of the EZ area and that Mr. Minister Noonan is also in denial regarding the need in June 2013 for a second bailout is unforgivable.
Mr. Matthews is infinitely better schooled and infinitely more competent in understanding, communicating and anticipating the future problems, even current problems of debt sustainability but has fallen foul of petty squabbling for ministerial posts. Unfortunately, the FG party have kept Deputy Matthews on the back bench even though he has far more credibility than any of his colleagues. How long this man can be kept down remains to be seen it is very obvious to the public what is going on.