Paschal Donohoe (Fine Gael)

I thank colleagues for their good wishes on my efforts and those of the other Senators who stood in the various elections which took place on Friday last. I support the amendment to the Order of Business proposed by Senator Fitzgerald. The reason for this is not to debate the consequences of the elections but to examine the events that have caused the changes in the political landscape. I refer to two issues that have not been mentioned on the Order of Business. The credit rating of our country has been downgraded, which means that, despite the assurances of the Government, it will cost more than originally thought to borrow money to fund the rescue of our banking system. Those who downgraded Ireland's credit rating have indicated they will do so again.

On Friday the number of people on the live register exceeded 400,000. We are inexorably creeping towards an unemployment figure of 500,000 and we are in the middle of an economic war. The consequences of that were seen in the elections last week. The success or the loss felt by those who participated in those elections is irrelevant in comparison with the loss by people of income and jobs.