Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

As others have said, I do not know what happened in the Taoiseach's conversation with Angela Merkel and I certainly do not know exactly what "special" means. Special could mean better treatment or it could mean basket-case, as is the case with Greece and the impact of troika policies on that country. It would be helpful if the Taoiseach could tell us what he thinks "special" means in terms of treatment and what he is asking for. What, precisely, are we asking for? If we are not asking for debt write down, then it is difficult to see how any special treatment is going to alleviate the burden on ordinary people or do anything other than produce long-term stagnation, if not depression. We do not know what Angela Merkel means by "special" so I ask the Taoiseach to tell us what he means by that term.

If we cannot get clarity on whether we are going to get debt relief, I ask the Taoiseach to consider an alternative strategy. As of September 2013, we will have a primary budget surplus. As of that point next year, the deficit will be entirely composed of interest on debt. That gives us leverage because at that point we can be self-sustaining. Let us tell Angela Merkel that if she does not give us a deal by the middle of next year that makes our debt sustainable, we will not pay back the money because the debt interest will cripple us. We will be in a position to do that because at that point we will not be spending more than we are taking in in tax revenue and we will be able to manage. Let us use that leverage and tell Angela Merkel that she has a deadline, after which we cannot be nice anymore because it is killing us.

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