Paschal Donohoe (Fine Gael)

The welfare and benefit of our country is not being given the same priority as the welfare and benefit of professional investors. Their interests and their profitability is being put ahead of the interests and profitability of our country. Many commentators said yesterday that this whole affair is a tragedy. On my way to the House, I read a definition of "tragedy" in today's Financial Times. It suggested that tragedies take place in three phases. The first stage is hubris, or false pride, as exhibited by the Government over recent years. The second is folly, which we saw yesterday. The third stage, of course, is the fall. The actions and decisions taken by the Government yesterday, which will have such a bad effect on future generations, have brought its fall nearer and made it all the more certain.