Seanad debates

Wednesday, 5 May 2010

2:30 pm

Photo of Dan BoyleDan Boyle (Green Party)

I agree the House needs an opportunity to have a debate at the earliest opportunity on events in Greece and their effect on the eurozone. While the House does not have a constitutional competence to make decisions on national expenditure, our views need to be heard and considered in this regard.

It is also important to take into account the news received today from the European Commission's review of the eurozone economy. Olli Rehn, the Commissioner for Economic and Monetary Affairs, pointed out economic growth in Ireland is likely to be 3% in 2011, the second highest in the eurozone and twice the eurozone average. I am surprised none of the Opposition's speakers today mentioned this. This points out the Government has done some things right. The Commissioner also said the Government's policy decisions have been bold, creditable and have led us to our current position.

Ireland is certainly not Greece. The deaths there today are regrettable and we can only hope the situation does not further deteriorate. The public sector in Greece comprises a far higher proportion of its economy than Ireland's. Practices have evolved in Greece, such as public sector workers paid 14 months' salary a year, that would never have occurred here. When fellow member states of the eurozone and the International Monetary Fund state corrections need to be made, we have a responsibility to say how they can be made as well as offering whatever financial assistance is necessary to make the corrections work. A debate in this context would be very important.

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