John Gerard Hanafin (Fianna Fail)

I share in the calls for a debate on the resolution of our finances. I am clear, as is the Minister, that there will be cuts in spending followed by budgetary measures to raise money. That is clear and has been spelt out to the EU which insisted we get our finances in order. It has given us until 2014 to do so and we are very successfully on track to do that.

It is worth noting, and we should be thankful for it, that the cost of raising money abroad has fallen significantly. To put it in context, we are now paying 4% to 4.5% for moneys abroad but were paying 16% at a time when our debt was more than 100% of gross domestic product and when unemployment and inflation were both 18%. We have turned a corner, as has been recognised by the Opposition this morning. It is time for confidence to return and for us to speak confidently.

With that in mind, is it not time that we called a spade a spade and said that what happened last night was idiotic, an inane attempt to ape what is happening in Greece? We saw the logical conclusion of anarchy on the streets in Greece when three people were burnt alive in a bank. What happened last night was unacceptable but everybody and anybody who incited people in any way to do that bears a responsibility.