Arthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

The sentiment of the motion might be correct in many aspects but the timing of such a motion is inappropriate, given that debt which was not originally a State debt became sovereign debt on the infamous night of the bank guarantee. Ironically, on that night, Sinn Féin secured the vote for the Government for the bank guarantee when the debts of private institutions became sovereign debt. The time for negotiation was then, but unfortunately, only a small number of people were privy to the information that led to the events that transpired on that night.

We should negotiate with the European Central Bank, the IMF and the European Commission but we should do so on our terms. This view was opposed by many of those who have signed this motion. The ESM has put a mechanism in place whereby it was hoped we could recapitalise the banks retrospectively and also capitalise banks in the future. Some opposition Members do not seem to see, feel, know or understand what the Irish people have gone through over recent years. Families, friends, associates, have all experienced what has been done to this country. The decision to pay off the debt that became a national debt has not been taken lightly. It is a question of the ability to meet the terms and conditions of all debt.

I am not an Independent Deputy but I am most certainly of independent mind. I try to influence my party and my government colleagues but I obey the Whip because that is the system. However, I am also a member of a European political party, the Social Democrats, whose sister party today became part of the government in Germany. I am not an Independent in this House. However, there are benefits to being a member of a party and being part of a wider European organisation.

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