Joe Higgins (Dublin West, Socialist Party)

It is reckless in the extreme that the Government is proposing, in a single day and with barely 4.5 hours allowed for debate, to ram through Dáil Éireann the European Stability Mechanism Bill, a Bill that exposes taxpayers to a potential liability of €11 billion and taxpayers throughout the European Union to a potential liability of €700 billion. This is not to serve as a solidarity fund for the peoples of Europe; rather, as we have seen this morning in the Spanish case, it is to bail out the same reckless speculators whose gambling debts are already crushing the people, the economy and living standards.

It is particularly ironic that the Tánaiste is proposing the use of a guillotine on this issue today. It would be an understatement to say he would have been apoplectic if the arrangements being made today were made to debate a proposal of this import by the former Government when he was in opposition. He would have raged as only he could have when in opposition. I have no doubt that many Deputies, from all parties in the Dáil, would want time to consider and speak to the Bill. Given that the Spanish banks are being awarded a bailout, we should wait until at least after the weekend such that our knowledge of what happens in Spain will inform the debate. Continuing the debate next week is essential. Therefore, I ask the Tánaiste to remove the guillotine and allow the debate to continue into next week, at least.

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