Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I support the Government amendment. Much of the debate on the promissory note has been headline grabbing and I want to give my thoughts on the issue. How will this affect real people's lives? The consequences of default do not bear considering because it is too risky. Everything is about risk so what is the risk to the ordinary person of default? The risks are enormous. In any person's language it is too risky. The key components of the promissory note are the interest rate and the repayment schedule. How does it affect real people's lives? In the negotiations on the promissory notes an interest holiday was taken and 8.2% will go in from 2013 to 2015.

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