John Gerard Hanafin (Fianna Fail)

Given that recessions are by definition temporary downturns, I ask the Leader to arrange a debate on the economy, focusing on the apparent positive signs in world economies. I am cognisant that the European Central Bank is expected to reduce the lending rate to 1%, markets in the United States are strongly forward, the credit default market for Irish bonds has returned significantly, indicating confidence in Irish bonds, while the price of oil is increasing and consumer sentiment is improving. I contrast these trends with the views of economists. It is said that economics is the dismal science and, as others have noted, economists have successfully predicted 14 of the past three recessions. I recall that one prominent economist, an individual who has gained greater prominence in recent days, stated on the "Six One News" that the current recession is never-ending. We all know that the tide will come in again. For this reason, the debate on the economy should focus on jobs.