Tom Fleming (Kerry South, Independent) | Oireachtas source

The Irish public has suffered in a similar manner to the other so-called "PIGS" countries. They are burdened with a debt of over €200 billion. In Ireland's case, the IMF calculated that every €100 of austerity would cost the economy €50 in lost growth and unemployment. This was the fiscal situation, and through the imposition of austerity on our defenceless public, the IMF evaluation seems to have been way off target. In real terms, the economy has been robbed of between €90 and €150 for every €100 cut in the budgets. Every euro taken out of the economy puts us further into the doldrums.

A range of draconian spending cuts was devised in tandem with some of the most regressive taxation policies in Europe. Ireland's figures reveal that the wealthiest in society fared best, with their incomes increasing by 8%, while the incomes of the most vulnerable have dropped by over 20%. The €32 billion plus taken out of the Irish economy by austerity measures over the past six years has produced visible carnage. The Government is not deviating from the course of the predetermined cuts and tax increases and is insisting it is locked into an agreed programme with no room for manoeuvre. This is a defeatist attitude, to put it mildly.

Similarly to Greece, we have taken the hard, blunt measures and the Irish public does not want to see these Cromwellian policies foisted on this or future generations. The Greek situation offers us hope and potential for a renegotiation of our debt. This can be strengthened by a decisive call for a European debt conference.

Over €200 billion of debt has to be serviced by 20% of all taxes collected and that is only the debt interest repayments. This is having a drastic effect on all our services - health, housing, welfare supports, down along to the job creation supports, supports for disability and childcare, etc. We further ignore and deny our debt crisis to the detriment of the economy and all the aforementioned services. That is all the more reason to support the Greek call for a debt resolution conference which would provide massive economic stimulus and a once-off opportunity for social solidarity with the citizens of Greece, Spain and Portugal.

I commend Deputy Catherine Murphy on the comprehensive research and work she put in to this very effective motion and proposal.

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