Michael Colreavy (Sligo-North Leitrim, Sinn Fein)

-----that there was a structural problem. Sinn Féin did not support the bank bailout once that was made clear and once the lies were cut through.

Turning to the matter under discussion, citizens have witnessed much bad governance in recent years. The political elite allowed bankers, developers and private speculators a licence to use and abuse the State. When those bankers, developers and private speculators faced the consequences of their actions, they were shielded by the leaders of this country. Citizens then faced further poor governance as the political elite wielded the sword for cuts and austerity, instead of taking the braver option of ingenuity.

Our citizens have witnessed their leaders making mistakes, blunders and errors, while the general public suffer the consequences. Perhaps one of the greatest blunders an Irish Government has made is to consign us to austerity for the foreseeable future. They have supported their own blackmail and are now attempting to use it against our citizens.

During negotiations in December and January, the Government supported an insertion of the blackmail clause into the austerity treaty and the treaty establishing the European stability mechanism or ESM. This blackmail clause stated that access to future bailout funds from the ESM would be subject to the Irish people passing the austerity treaty. In effect, the Irish people were threatened and held to ransom, while their own Government supported it. This is an indication of the ideology of this Fine Gael-Labour Government.

They would rather support a clause that blackmails its citizens into austerity than show some real leadership. They have handed the European elite the power to coerce our people so that the austerity treaty would be passed in this State.

Many have bemoaned the use of scaremongering during past referendums, but this time it is the Government generating the fear. Without this blackmail clause, Government knows the referendum will not pass. All the treaty does is enforce harsh austerity on Irish people. The Government has agreed to let Europe use blackmail to force the treaty through. The Government is attempting to place itself in an impossible position in order, like Pontius Pilate, to wash its hands of responsibility.

In his previous incarnation in Opposition, the Tánaiste accused the Government of economic treason. Can the Tánaiste really say he has bettered Ireland's stakes in his Government's dealings with Europe?

There is a chance of redemption for the Government. For the ESM to be created, the European Council must amend the existing EU treaties and give them the power to create a permanent bailout mechanism. This amendment, known as Article 136, must be ratified by all 27 member states. Article 136 has yet to be ratified by the Oireachtas and therefore is not yet law. As a result, the Government has a chance to prevent the Irish people being blackmailed. We do not hold a veto over the treaty establishing the European Stability Mechanism but we, and the Government, hold a veto on Article 136 on which it is based. In short, if the ESM cannot deny Ireland a second bailout, there is no reason to pass the austerity treaty. Beyond blackmail, there is nothing of value for the Irish people in this treaty.

It is time for honesty from the Government. The Government should do the right thing and prevent this blackmail clause being inserted in the treaty. Let the referendum be carried out in the cold light of day in order that the public can make a clear and honest choice over our future. The Government needs a mandate from the people if it wishes to pursue the severe austerity measures it is set on pushing through. It has tried in vain to avoid holding a referendum and is now attempting to muddy the waters surrounding the facts. Europe is not going to kick Ireland out of the euro or deny us a second bailout if we need it. To do so would be an act of lunacy and would damage the entire European project.

It is time we took ownership of our own destiny. We can no longer afford to suffer at the whim of the market and unbridled capitalism. It we continue to hand over any more of our freedoms, we will be embarking on a very dark path. I remind the House of these lines from our national anthem:

Sworn to be free,

No more our ancient sireland

Shall shelter the despot or the slave.

I highlight these words because, as we continue to hand over more and more of our sovereignty, we betray the sentiment of our anthem. Only the Irish people have the right to determine the future of Ireland. The EU, the IMF or the ECB cannot violate or negate those rights. I call on Fine Gael, Labour and Fianna Fáil, as we approach the anniversary of 1916, to remember what those men and women died for. It was not for dominion status of the kingdom of Goldman Sachs and its like.

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