Joe Higgins (Dublin West, Socialist Party)

The agreement on the banks was described by the Taoiseach, in respect of its effect on Ireland, as a seismic development and greeted with general elation in the capitalist press. Is it not the case that we do not have any specifics as to what the agreement will mean in the Irish context? The Minister indicated a meeting to be held later this month will go into greater detail. Is there any concept of what difference the agreement will make? For example, how does the Minister envisage the gross debt of the State breaking down? Will the massive amounts that had to be put into the banks be subtracted from it? Does the Minister know how it will work its way out? What impact will this have on the general policy of austerity pursued by the Government? What impact will it have when the Minister draws up the budget for 2013 next December?

See this speech in context