Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

The reality is that every new government, when elected, must reflect on the mandate it has achieved but equally, Greece is not in a unilateral situation. The same was true of this country. That said, the reality is that the programme negotiated for us was particularly poorly negotiated by the previous Government. It required lengthening of the maturities of the European Financial Stability Facility, EFSF, debt and the European Financial Stabilisation Mechanism, EFSM, debt. We had to further negotiate and reduce interest rates. The promissory note deal had to be restructured and there was also the early repayment of the IMF debt, which was particularly expensive at the time.

The broad thrust of what Deputy Dooley and his leader said is correct. The Greek Government has an obligation while within the eurozone and the European Union to operate within the structures that are in place through the treaties that have been agreed through what always is, in European terms, a protracted process that requires negotiation.

The process also requires that Governments be willing to settle, where required, and give and take. This is the European way, and it has been very successful during the past 40 or 50 years in allowing the Continent to function in a peaceful manner. It is not without flaws, and there is an obligation on the Greek Government. At 4.30 p.m. there will be a Eurogroup conference call, and it is very much hoped that there is still an opportunity for new proposals to be found. At the beginning of last week, there was significant optimism that a deal would be concluded and there is still the potential for a deal.

We hear from the political classes here, particularly Sinn Féin, the populist line that promises can be made and economic realities do not exist. They frequently refer to "austerity". In reality, every economy must put in place a plan to fund its public services, such as health, education and social protection, over the longer term. This is what is being suggested, and there is strong solidarity and a desire to support Greece in returning to a point which it had reached last year. It is possible for the Greek people to turn the situation around, as we, Portugal and other EU countries have done, and they will have the support of the institutions and Governments throughout the EU. However, they must come with a set of believable and realistic proposals. They will see very strong goodwill, especially from countries such as Ireland which have been through the process. We can give added value and support to the Greek people and Government. The measures must be, as in Ireland's case, negotiated, defended and sustainable.

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