Seanad debates

Tuesday, 27 April 2010

2:30 pm

Photo of Paschal DonohoePaschal Donohoe (Fine Gael)

I call for a debate on a subject that could overshadow many of the themes we are discussing today. I refer to events in Greece on Friday, when a small member state of the European Union announced to the international markets that it believed it would not be able to meet its expenditure and asked member states to support it in an act of solidarity. That event will change the path and choices countries such as ours will have to face. It puts on the table the fact that another country which occupies roughly the same space in the league table of European economies is experiencing profound difficulty in keeping the lights on at night. That is a subject that needs to be discussed in this House, given that this country will be asked to make a contribution of approximately €450 million to support Greece. While that is the right thing to do, we need to explain why and the profound implications of what is happening in Greece and could happen here.

I refer to the pensions debate. Some colleagues spoke about overcrowding in the Dóchas Centre, the women's prison, which is located around the corner from where I live. I must contrast the attitude of the State regarding the prisoners there to its attitude towards Mr. Michael Fingleton, the former chairmen of Irish Nationwide.

Over the weekend, in a letter that was published in a national newspaper, he said he was harassed into volunteering to repay money. This is the man who led the organisation, for which he received a €1 million bonus, that the taxpayer must now support to the tune of €2.5 billion. That represents the unacceptable face of capitalism in this State and the Government must take a much tougher line than it has up to now.

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