Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

The Minister has not given us an indication of why it is the Government is resisting the idea of having a debt conference. One thing for sure is that we would not know the outcome of any such debt conference. Whether it would take place in the context of the Eurogroup or somewhere else is largely irrelevant. What is relevant is the need for a shift in thinking at the heart of Europe. The European Union must accept that it has a debt problem.

The Minister spoke about the Eurogroup. Its six-month plan does not contain any significant mention of dealing with debt in a serious way. Will the Minister put the issue of debt on the European Union's agenda? The Union and Ireland are in denial about the extent of member states' debt. It is very clear that the Greek Government wishes to have this conversation and wishes to have it now. It is not a butting of heads or an ultimatum but a desire for the European Union to face up to the reality that there is a problem with the high level of indebtedness of many member states and that it needs to be dealt with in a fair and logical way. However, we have a Government that has closed its eyes and ears to such a call.

Why is the Minister's personal position and that of Fine Gael at such odds with the position of the Labour Party which believes such a conversation should take place? As night follows day, Greece will have its debt written down, whether it is through engineering or otherwise. It will happen because it has to happen. Whether Ireland wishes to be part of this is the questionthe Minister, on behalf of the Government, must answer.

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