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Order of Business (26 Oct 2011)

Micheál Martin: Do I take it the motion is withdrawn?

Order of Business (26 Oct 2011)

Micheál Martin: On a point of order, could we hear what is going on, please? I cannot hear.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: This is a moment of unparalleled crisis for the European Union. It is on the edge of a financial collapse, perhaps more severe than the 2008 crisis because of the number of countries involved. This is not about Greece. The growth and prosperity which Europe has secured over nearly 60 years was achieved because of the ways in which states opened up and became intertwined. This is a...

EU Summits: Statements (26 Oct 2011)

Micheál Martin: The idea of leveraging the funding provided by member states through the ECB remains the only one which could be both large enough and contain risk. The absolute refusal to do this may mark the final and most grave mistake which leaders have made this year. The argument of the guardians of ECB orthodoxy claim that such a leveraged fund would betray the founding principles of the bank. In...

EU Summits: Statements (26 Oct 2011)

Micheál Martin: If Dáil Éireann was today allowed the freedom of the Bundestag to set limits to what was to be agreed, there is no doubt whatsoever that a burning of bank bondholders would be passed. Ireland played its part last year by not taking unilateral action against the bondholders. A pan-European approach to bank capital has now been agreed so Ireland has a right to demand the freedom to act....

EU Summits: Statements (26 Oct 2011)

Micheál Martin: -----and hide what is actually happening. Those form of words will be meaningless and they have no chance of being agreed or implemented any time in the near future. They are a waste of time and have nothing to do with the causes of the crisis. In contrast, if the leaders were to propose a quick series of treaty changes aimed at broadening the mandate of the European Central Bank and...

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Any agenda which goes significantly beyond this will end in failure and probably sooner rather than later. When summits are convened but controlled by the agenda of a handful of countries, they rarely generate positive outcomes. When they are convened without leaders actively engaging with each other, they are always failures. I have never seen such a lack of bilateral contact between...

EU Summits: Statements (26 Oct 2011)

Micheál Martin: The Taoiseach said previously that the Dáil would return on Tuesday after a bank holiday.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Greek default will be a serious event for Greece and we should not pretend otherwise. The sovereign default in Greece will have a very serious impact on Greece's economy and society for a decade but the issue is that because of Greek default there will be a major pan-European recapitalisation of banks. The argument against burning bank bond holders, therefore, is no longer valid. That is...

EU Summits: Statements (26 Oct 2011)

Micheál Martin: So we have not put it on the table.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Is the Minister of State saying we have not put it on the table?

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Have we put it on the table?

EU Summits: Statements (26 Oct 2011)

Micheál Martin: So we have not put it on the table at the summit meeting.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Of course not? I asked a simple question: Have we as a Government put it on the table?

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Thank you.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: I am not being smart-----

EU Summits: Statements (26 Oct 2011)

Micheál Martin: -----but for six weeks I have asked this question and all I want is a simple answer. Has the Irish Government sought to put this issue on the agenda? That is all I want to know, yes or no.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: It is not; it is what I asked.

EU Summits: Statements (26 Oct 2011)

Micheál Martin: Why can we not get a straight answer?

EU Summits: Statements (26 Oct 2011)

Micheál Martin: In which we are a participant.

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