Gerry Adams (Louth, Sinn Fein) | Oireachtas source

One of my questions was what issues the Taoiseach planned to place on the agenda for the European Council meeting, which I do not believe he answered. Another question was if he intends to circulate any position papers to other European leaders, to which if I recall it correctly, the Taoiseach replied "No". That is disappointing.

The Taoiseach has a point when he says just because a Minister for Finance makes a statement does not mean he has to get in touch with the prime minister of the state in question. I would like to explore the issue of banking debt with the Taoiseach. In this case, the so-called Helsinki Three, namely, the Ministers for Finance in Germany, Finland and the Netherlands, contradicted the Irish Government's version of the deal done in relation to Irish bank debt. I do not understand why in that case the Taoiseach did not contact their leaders for an explanation or, from his point of view, reassurance that his interpretation of the deal was the correct one. The Taoiseach's interpretation, following his return to this House after the European Council meeting, was that it was a seismic shift. The Tánaiste described it as "a game changer". The Taoiseach told this House and the people that this deal would lift the burden of bank debt from them and that it was to be retrospective. This has been contradicted by the three Ministers for Finance mentioned.

The new chief of the ESM when asked about this last week said: "This part has not been discussed by any European bodies." This interpretation also contradicts that of the Government. Following the June summit, Sinn Féin warned against over-selling the implications of the agreement. I think the Taoiseach was very hard on Deputy Boyd Barrett. His opinions are as valid as anybody else. If the Government secures a deal to lift the banking debt from the people, I will welcome it. Sinn Féin is on record welcoming all the positive developments announced this week. When the Government does something which we believe is good, we welcome it. That is first class for everybody. However, when it is not doing what it is supposed to do, we disagree with it. The Taoiseach must accept this is a valid position.

The Taoiseach said the Government has long argued for the separation of bank and sovereign debt. That is not the case. Sinn Féin argued from the first day for separation of bank and sovereign debt, which the Taoiseach rubbished.

He stated Ireland would pay its way and that we would not have the word "defaulter" stamped on our foreheads. He argued against us every time we raised it. It was only when the new French President was elected and took up the same position as us that the Taoiseach began to U-turn on the issue. It is little wonder the Taoiseach has not resolved this issue. The proof of the pudding is in the eating. The Government continues to pay out, with another €1 billion being paid this month. Will the Taoiseach set out the strategy to remove the burden of bad debt from our people? Is the issue even on the agenda for this week's summit meeting?

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