Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I share the IMF's view that countries that can borrow more money should do so. We cannot do so because our debt-to-GDP ratio is very close to 120% at the moment. It is not possible for us to do that. Of course it would be great to have an economic stimulus and another €500 or €600 million, or €1 billion, to throw into these things, but it does not happen that way. Somebody has to pay for this. The Deputy is aware that the Netherlands, as a paying country, has had to make some serious changes recently to deal with banks, the retail sector, taxation policy, etc. The provision of €6 billion in recognition of the problem of youth unemployment is an example of a new initiative that was well supported by Europe. Europe said in a forthright manner that it was willing to open trade negotiations with the US.

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