Paschal Donohoe (Fine Gael)

I wish to pick up on the theme raised by Senator Fitzgerald about the challenge our country is facing. I was listening to the radio this morning and heard what was going on as I was on my way to drop off my young son at primary school which he has been attending for three weeks. Young life is full of possibility. Schoolchildren are going to a place that is secure, provided for by the State, and is kind and full of comfort. People want them to do well.

Let us compare that to the situation in which our country finds itself this morning. I wish to draw attention to one fact that has not been discussed in the House so far, namely, the statement by the Government that it will defer our monthly bond auctions for two months. The implications of that are so stark and serious as to be nearly unspeakable in terms of what it means for the country. The Governor of the Central Bank spoke this morning about the need to reprogramme budgetary priorities. We find ourselves today with debt as a percentage of national income of approximately 32% with a commitment to move to 3% by 2014.

We are facing a profound and existential crisis in our country today. Senator Buttimer has called many times in the past year for a debate about the future of politics. I echo that call. We are calling again and again for our people to come together in a common purpose to make our country secure. It is now apparent that our politicians need to do the same.