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Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: I move: That Seanad Éireann has no confidence in the Government.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: I congratulate the Green Party on pulling the rug from under the Government on 22 November. We thought for a short period we would have an end to a Government that has outlived its purpose. One of the many farces in this episode has been that having announced the Government would end in January, the Green Party representatives said they would support the budget and the finance Bill. Now we...

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: The only institution which will lend money to Ireland is the IMF which is the lender of last resort.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: It is not.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: If the Senator thinks a rate of over 6% is cheap money, I will lend him money at a rate of 6%.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: Without doubt, I will lend Senator Cassidy money at a rate of 6%.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: If the Senator thinks it is cheap money, I will lend him money at that rate, provided his security is as good as the nation's.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: We are humiliated and it is the Government which has humiliated us. It has borrowed money at this exorbitant rate. The problem is that we had no option-----

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: -----but to take it because nobody else would lend to us. We are, I am afraid, despised by many other nations because of the trouble we and the economy have caused. What happened? When we went looking for money, we had one card to play, that we would sting the bondholders. However, we were told by the European heads that they would not even tolerate such; it was taken off the table...

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: Therefore, we took what was given to us by our European partners and the International Monetary Fund in one of the most humiliating exercises in the history of the State. That is where we stand. The Government came home and told us we had no option and that default was not to be spoken about. This morning the Minister for Finance said on radio that we were not to talk about default. Why...

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: Talk of default-----

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: Talk of default-----

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: Yes. We are in a negative situation.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: I will ask the Senator to leave the House if he is not careful.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: The Government has led us into this crisis.

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: It was the Government which allowed the banks to behave in the way they did, was close to the developers and let the regulator off the hook. Why did it do this? Today we are being told time and again not to worry and everything is fine because we are only going back as far as 2006. That is the spin that has been put on it. Social welfare payments are returning to what they were in 2006....

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: Alan Dukes is one, but what about Ray MacSharry?

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: What about-----

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: What about Joe Walsh?

Seanad: Confidence in Government: Motion (8 Dec 2010)

Shane Ross: What about Aidan Eames? Are they not Fianna Fáil people?

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