Kieran O'Donnell (Limerick City, Fine Gael)

-----not one that is politically oriented but in terms of the hard facts. The public want it to be based on facts. People are aware that under the IMF-EU programme there are major constraints. We have to get down to under 3% of debt to GDP by 2015. Deputy Donnelly and I agree that too much debt is effectively an anti-growth measure in itself. It is a regressive measure. We need to get our debt down.

What is in the fiscal compact treaty is no different from what we already signed up under the six pack last December bar there are issues in terms of imposing fines and other elements to it. In the main, it is the same.

See this speech in context