Seanad debates

Tuesday, 9 November 2010

3:00 am

Photo of Mark DeareyMark Dearey (Green Party)

The question with the Croke Park deal is whether we can find agreement across the House on its review date. The review date of March next is probably too late. While I appreciate that is what has been agreed, an earlier review would be extremely helpful in the circumstances in which we find ourselves. It would allow us to reconfigure what has been achieved so far. I acknowledge what has been achieved, as I did several times when the unions voted on the Croke Park deal. The review needs to take place sooner to provide us with an opportunity to use every mechanism within our power to deliver the type of rescue plan the country needs.

On mortgages, I commend Senator MacSharry on his work and observations in this respect. The negative equity locked down in so many mortgages is an enormous millstone around our prospects for economic recovery. I hope the recommendations of the report to be brought forward this week will release people from some of that negative equity. The moral hazard is at times over-stated and is an easy cover to do nothing. We need to be clever and to find ways through which we can by-pass that moral hazard and free up people, for their sake and that of the wider economy.


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