Catherine Murphy (Kildare North, Independent) | Oireachtas source

In a terrible time, the people trusted others who occupied the same offices in the small hours of the morning when bank debt was guaranteed. The public does not want trust to be placed in such a narrow confine but they wanted this Dáil to be different. We are not seeing any difference and there is absolute outrage at the idea that this promissory note, which was expected to be a temporary measure, will be turned into a bond and formalised. People are not only offended that they will have to pay it but they are doubly offended that their children and grandchildren will have to pay it.

One can consider the negotiating strategy of other countries which worked because, in many cases, they forced institutions to take notice and pay attention. They have nothing like what we have in the most costly banking crisis since the Great Depression. Taking into account the full cost of the banking crisis, the figure is €42 billion to date spent just on our banks. Working done by the Nevin Economic Research Institute and Michael Taft indicates that the average amount falling on the citizens in Europe will be €191, with the average burden placed on the citizens placed on the citizens of this country at almost €9,000. It is unsustainable.

This is not our debt and we should not be paying it. I can live with it if it is called default but let us not treat the people of this country as imbeciles. We will paying every penny of this debt with interest, which is a disgrace.

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