Results 25,381-25,400 of 26,610 for speaker:David Cullinane

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: There are many who will not be listening to this debate but who, if they were, would understand that we did put money away for a rainy day in the National Pensions Reserve Fund and that fund was emptied. It was emptied, not to invest in people or to invest in jobs, but to give to the banks to recapitalise them and pay back the bond holders. That is the reality that is facing the working...

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: What the people-----

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: I will deal with the show-me-the-money argument. I will get to that, if Senator Gilroy gives me the opportunity.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: There are 56 Members in this Chamber in favour of the treaty and four against. It is not reflective of what is happening outside. For those of us who are putting forward arguments against, at least give us the opportunity to make our points without interruption.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: Without interruption. I have a number of minutes and I will deal with the issue of funding when I get to it, in my own time. What I am dealing with here is what is not in the treaty and what are the big problems in Europe.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: The first is what caused the crash in Ireland and what caused the problem in the first place. Our public finances collapsed in 2008 because the property and consumption bubble burst. That is what caused the crash. We built our public finances on sand, an unsustainable foundation, and it all collapsed. Let us remind ourselves why it collapsed. It was because banks, primarily the former...

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: However, there is nothing in this treaty that deals with any of that.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: There is nothing in this treaty which deals with the failure of the regulation of the banks.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: There is nothing in this treaty about any debt write down.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: There is nothing about any debt write down. The treaty, if it was in place in 2008, would not have solved any of our problems because we ended up with a big gapping hole in our public finances following the collapse of our property bubble, driven primarily by the banks and by their recklessness. This treaty does not deal with any of that. It does not deal with the problems.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: On "show me the money", the only reason the Government, in a shameful and contrived way, with its European partners put a formula of words into the austerity treaty to try to link it to the ESM treaty is because they were unable to sell a bad, flawed treaty to the people of this country. They knew the people would not wear it. They had to have some stick to hang over the heads of the...

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: Let us remind ourselves what the ESM treaty is about. It is about stabilising the euro. It is about providing emergency funding for states to stabilise the euro and provide access to funding for banks. Nobody really believes that if we vote "No", we will be shut out of that funding.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: I will make a prediction. If we vote "No", any talk about not having access to funding will disappear like snow off a ditch. What I would say to those on the opposite side-----

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: -----when they ask me to show them the money is that they should tell me where we will get the money to put into the ESM in the first place because we must make a contribution. From where will that €11 billion come? We must pay over €1 billion, instantly, once that is set up. We are borrowing money to put into this fund and then we will take it back again.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: It all is a nonsense. It is an illusion and those on the "Yes" know it. They put it into the treaty simply to scare people. I respect the views and opinions of all Members in this House, but what I would say about this referendum - I made this point about what is happening in Greece, and I mean it genuinely and sincerely - is that there is a real danger we are lecturing people about what...

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: I answered the question but you just did not listen.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: You just did not listen.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: Who caused the crash?

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: It is scandalous.

Seanad: Treaty on Stability, Cooperation and Governance in the Economic and Monetary Union: Statements (17 May 2012)

David Cullinane: It is shameful.