Results 501-520 of 1,954 for speaker:John Gilroy

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: In fairness, we attack the Senator's argument, not his party.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: I acknowledge Senator Cullinane's comments. While we differ in our analysis of and approach to the situation, his party is acting in what it believes are the country's best interests. He will concede that the Government is doing likewise. We might differ on how to work it out, but we are on the same side and want to do the best for Ireland. There has been criticism of this deal. It might...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: Is this relevant to the section?

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: I share the Leas-Chathaoirleach's suspicion that Senators are not focusing on the relevant section. I will not break the tradition of discussing extraneous issues.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: Senator Norris came close to P. Flynn territory when he complained about being unable to run a household on one or perhaps two salaries. I hope he will quickly backtrack from that remark.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: I examined the subsection and the Leas-Chathaoirleach is correct-----

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: I would like to be the only Member present to discuss the relevant section. It is difficult to see how one could make an argument for voting against the section if we all share the belief that we must access funding from some source. The only likely source of funding available to us at present is the European Stability Mechanism. If we vote against the section, we are stating we do not...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: There is no point in codding ourselves. There is a great deal of irresponsible lending and many financial transactions taking place. We cannot accuse German taxpayers of being irresponsible. Germany is reaping the benefits of a series of reforms it introduced in the aftermath of the fall of the Berlin Wall. German taxpayers are frugal savers who will contribute 27% of the total of the...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: German taxpayers are bailing us out with their money and we demand that they continue to provide us with funding while refusing to make our own contribution. That is a fantastic idea but it is also laughable and unrealistic. While there is nothing that grieves us more than borrowing money in our current economic circumstances to contribute to the ESM fund, it must be done. The very people...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: Either Senators do not understand what they are saying or their proposals are disingenuous. As the Minister noted, three quarters of the money we are borrowing is to fund public services. The largest item of Government expenditure is the social welfare programme. Senators argue that we should not contribute €1.27 billion to access the money we need to have a guaranteed funding stream....

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: It is lovely to be able to say that from inside the hallowed walls of the Seanad Chamber. How will we make social welfare payments or pay disability allowances if we do not have access to ESM funding after 2013? We face a funding cliff in 2014 when a sovereign bond of €11 billion must be restructured. Where will we get the funding to meet this cost if we reject the section? What will...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: I have no doubt Senator Cullinane will repeat them but I cannot understand his position. We can play politics as much as we want but Sinn Féin was unable to respond on the many occasions we asked that party during the campaign on the stability treaty to show us the money. According to Sinn Féin, we will go to the IMF and elsewhere, veto this, that and the other and still be in a position...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: Insurance companies.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: It is very small.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: What about inflation?

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: They are not realistic.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: Sinn Féin voted for it.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: Sinn Féin voted for it.

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: A party that ruined the country told Sinn Féin it was economically illiterate. The party that ruined the country is still the party that ruined the country and Sinn Féin is still economically illiterate. I wish to point out three things about Sinn Féin's comprehensive position as outlined by Senator Cullinane. He said we can deal with the exceptional liquidity assistance, ELA, and the...

Seanad: European Stability Mechanism Bill 2012: Committee and Remaining Stages (27 Jun 2012)

John Gilroy: They are right. If the Senator goes back to August of the year before last, he will find the secondary bond markets were charging Ireland interest of around 16%. That is true; the Senator can check it. Now the rate is 7%. The bond markets are clearly saying Ireland is doing something in the direction of-----