Dáil debates

Wednesday, 23 January 2013

Euro Area Loan Facility (Amendment) Bill 2013: Second Stage (Resumed)

 

6:20 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I understand. I thank the Cathaoirleach and am glad to have an opportunity to speak on what I consider to be an important Bill from a different perspective to that of the previous speaker. I am sure that while we respect each other's views, we are not necessarily obliged to agree. For whatever reason this nation has found itself in its present plight, the blame game is of no consequence at this stage. Everyone knows what has happened in the past and there is not much sense in dwelling on it now other than to note that despite the claims of Opposition Members and despite their continuous rants about austerity, which in fact is good housekeeping, the policies pursued by the present Government are actually working.

Everyone is aware that a huge burden has been placed on taxpayers. It is highly burdensome that everyone is obliged to carry the burden that was foisted on us for whatever reasons. However, one certain point is the policies pursued by the Government are working. The so-called austerity is working and is bringing about results. Members should recall the difference between the present position and that which obtained two years ago when, were we to go into the marketplace to borrow, we would pay through the nose for it. Moreover, we did and the offers made to us were colossal. The position has changed dramatically since for a variety of reasons but one of the biggest single factors in bringing about that change is confidence. I refer to confidence in the destination to which one must go to borrow money. From where do Opposition Members expect the money to come that the Government must borrow to meet its budgetary requirements in the current year or for last year? Does anyone in this House really think someone will be sufficiently charitable to thank us for having been very good and then, while noting we do not intend to repay it, to hand over the money to us anyway? It does not work that way. International businesses, economies and financial services do not work that way. Nothing I have ever known works that way. Moreover, and I am sure the Acting Chairman, Deputy Mathews, has similar experience, I have never known of a lending institution that was prepared to lend money on the basis that although one did not really intend to pay back what one had got on the previous occasion, one now wanted more. It does not work that way.

We must become a little realistic. A huge burden is being shouldered by the Irish people and piling more misery on their heads by telling them they are going down and there is no hope is not the right message to give. Members must be more positive now and I was sorry to hear the linking of the economic situation with the levels of suicide. While there may well be a link, suicide is a serious issue in Ireland and has been for several years. It did not come about today or yesterday but, sadly and tragically, has been with us for a long time. There are various reasons that suicides continue to occur. I have never spoken about that subject in this House previously but I am familiar with and have dealt directly with people who have been in that difficult situation. At this difficult and vulnerable time for all our people, Members must be supportive of those who find themselves under pressure. Members must reassure those who find themselves unable to meet the consequences of the kind of situation in which we are at present. It would be poor of Opposition Members, were they to use such a tragic subject to advance their cause for political purposes. While that is not their intention, there is a grave danger this could happen. In respect of linking the economic situation with suicide, Members must be able to tell clearly those people who are under pressure at present that all is not lost. They must be able to tell them that we are recovering and it will be a short time before we see the light that is getting brighter in that tunnel. Members must build on that to support our people. They must stand together with them and leave no one floating in our society. Increasingly, Members must be the shoulder on which people wish to lean. They should hold out the hand of friendship to those who find themselves in difficulty and should do something economically about it, which is what the Government is doing.

In debate last week the Governor of the Central Bank spelled out clearly to all and sundry what would happen were we to behave irresponsibly. Were we to so do, there would be consequences and the Governor of the Central Bank pointed that out several times. He is not exactly known for making this point so emphatically but effectively, he made the point that were we to decide to do something ridiculous, such as defaulting on that to which we already have committed, for whatever reason and regardless of whether the reason was right or wrong------

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