Dara Calleary (Mayo, Fianna Fail)

The ESM has been debated sufficiently and in a united fashion for several weeks. Will it be large enough? We will not know until it is established. We are much better off having the fund and access to it. Whether we will need access to it in 2014 is probably beyond our control, given events elsewhere. It can be in our control only if the ECB and the European Union stand up to the markets and take some of the decisive actions needed. On the pain the people are enduring, there may be an end in sight if we can return to the markets in 2014. Otherwise, issues outside Ireland's control in other countries may affect our ability to return to the markets independently. Some of the suggestions we have shared with the Government could help us to achieve this and normality would return to the State finances as soon as was possible.

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