Mary Lou McDonald (Dublin Central, Sinn Fein)

As the Tánaiste is well aware, the Labour Party in government has on two occasions extended the very bank guarantee against which he rails so strongly. It is time to change the record in this regard. The Tánaiste says he recognises, as we all do, the unsustainability of our bank debt and lauds the Government's achievement in securing a reduction in the interest rate, for which it has Greece to thank. The Government certainly pulled a sly one in respect of this year's promissory note payment. That did not represent a solution, or even a partial solution, to our problem. The Tánaiste now says he is hedging his bets as to whether the Spanish might pave a way for some resolution for our debt burden. That is a very unsatisfactory statement of facts from him. After the referendum, the Taoiseach and the Tánaiste engaged in a kind of telethon with their European partners. I have a suggestion as to how the conversation might have gone between the Taoiseach and the Chancellor.

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