Brendan Howlin (Wexford, Labour) | Oireachtas source

If we had followed the path recommended by the Deputy's party leader, which involved defaulting on our debts, we would be in a worse position than Argentina is in 20 years after its default. Our people would be impoverished, we would have no inward investment and it would be impossible for this country to borrow money anywhere at anything like reasonable rates of interest. It is interesting to note that our ten-year bond yield yesterday was 2.3%, which is below the capacity of Britain to borrow money. I think that is a testament to how far we have brought the country in the last three years. The Deputy is right when she says that many people are desperately squeezed. We know that. We want to give as much support, help and money back to people as is possible, consistent with our determination to have a sustainable platform on which this country can thrive into the future.

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