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Leaders' Questions (24 Feb 2010)

Brian Cowen: The extraordinary basis for Fine Gael's economic policy is that its wishes, primarily, to raise bonds to fund all of these jobs of which Deputy Kenny speaks while at the same time default on bond holders. That is its idea of how one raises bonds. Fine Gael has as much understanding of-----

Leaders' Questions (24 Feb 2010)

Brian Cowen: On the whole question of the establishment of NAMA and it becoming operational, the purpose of this is to ensure we have access to funding and that we can reduce the cost of funding-----

Leaders' Questions (24 Feb 2010)

Brian Cowen: -----to banks so that they can provide funds to the wider economy.

Leaders' Questions (24 Feb 2010)

Brian Cowen: The Fine Gael Party has not supported-----

Leaders' Questions (24 Feb 2010)

Brian Cowen: -----one tough decision taken by this Government in the past 12 months.

Leaders' Questions (24 Feb 2010)

Brian Cowen: Again we have Deputy Gilmore getting up this morning to give his view of the world. It is clear from the past six months' debate on the economy that there is not a coherent alternative to the capacity of the Government.

Leaders' Questions (24 Feb 2010)

Brian Cowen: What is clear is that the Government is demonstrating its preparedness to take the decisions that are necessary and that there are no circumstances in which support will be provided from the opposite side of the House, but that will not deter us.

Leaders' Questions (24 Feb 2010)

Brian Cowen: Far from being tired, let me assure the Deputy that we are ready to fulfil our mandate for the remainder of this term, bring recovery and growth back to the economy. The Deputy can talk down the economy and the Government all he likes. We are going to do that with or without his help.

Leaders' Questions (24 Feb 2010)

Brian Cowen: The Labour Party was never right.

Leaders' Questions (24 Feb 2010)

Brian Cowen: I reject all that again.

Leaders' Questions (24 Feb 2010)

Brian Cowen: One of the problems of being in opposition too long is that Opposition parties believe that they alone possess the right to define what is the national interest. I know what is the national interest in discharging my responsibilities.

Leaders' Questions (24 Feb 2010)

Brian Cowen: I reject all the assertions the Deputy has been making about my position and my disposition in dealing with the issues that faced the country since I took office.

Leaders' Questions (24 Feb 2010)

Brian Cowen: My role, just as much as the Deputy's role would be if he had the honour, is to seek to defend the national interest of the country. The Deputy will not define it for me as if he had a higher motive than I have.

Leaders' Questions (24 Feb 2010)

Brian Cowen: That motive has meant that the policies we have brought forward have sought to stabilise the crisis situation we were facing, have obtained international support for so doing and are determined to continue with a consistent approach that will bring recovery. There is considerable revisionism going on-----

Leaders' Questions (24 Feb 2010)

Brian Cowen: -----as to what his party's position was during the good times when deficits would have been far higher coming into this situation. Both in terms of its policy framework and what it proposed coming into elections, let the record show where the economy would have been-----

Leaders' Questions (24 Feb 2010)

Brian Cowen: -----had we followed its proposals, when its Members were saying to me when I was Minister for Finance that I was like Scrooge and was not spending enough money on health and education.

Leaders' Questions (24 Feb 2010)

Brian Cowen: Now we have the revisionists seeking to suggest they were the responsible ones if only they had been around. The fact is that during those times we created 700,000 jobs. During those times we had growth in the economy.

Leaders' Questions (24 Feb 2010)

Brian Cowen: We now need to ensure we effect recovery and rework the economy again. That is what we intend to do. I will not accept any suggestion from the Deputy, however populist it might appear.

Leaders' Questions (24 Feb 2010)

Brian Cowen: The idea that the financial viability of the country would have been best served by not proceeding with the bank guarantee on 29 and 30 September 2008 is so far off the mark that it is unbelievable. It is true that everyone in the Central Bank of Ireland and all advice to the Government at that time related to the systemic nature of those institutions.

Leaders' Questions (24 Feb 2010)

Brian Cowen: That is the situation. There is no suggestion from the Deputy or anybody else that would suggest that we could get easier access to funds by not having that bank guarantee in place. In fact the bank guarantee has provided us with the means by which banks have been able to continue to operate and has reduced the cost of access to funding. In addition, the banks are paying for the guarantee....

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