Brendan Howlin (Wexford, Labour) | Oireachtas source

The financial emergency measures in the public interest, FEMPI, legislation is required because a financial emergency still is in existence in this State. Deputy Fleming asked some pertinent questions about the necessity for it. The first FEMPI legislation was introduced by the Government of which he was a member in 2009 when the country was in free-fall. He is right to acknowledge now that some considerable advances have been made. He also is right to acknowledge that the Irish deficit this year will be 123% of GDP, which will be among the highest anywhere in the world this year.

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