Dominic Hannigan (Labour)

Since Members last met, the financial situation has deteriorated to the extent that this afternoon's meeting will see Ireland come under enormous pressure to accept a bailout not just for our sake but to save the euro currency as well. One need only look at this morning's newspaper headlines to learn how concerned is the rest of the Continent. The Financial Times reported on its front page that Ireland is edging nearer to a bailout. The International Herald Tribune reports that Dublin may require rescue to stem the crisis and The Daily Telegraph reports that Germany will push Ireland to accept help. It is clear that the rest of Europe has lost confidence in the Government and that it has run out of time. Its inaction is leading to countries such as Portugal and Spain becoming highly concerned about whether the cost of their debt will increase to a level they cannot withstand. When listening to our own Government, it is clear that it is at sixes and sevens on this issue and that its members are unclear in their own minds about what exactly will happen. The longer this goes on, the worse it will be for both Ireland and the rest of Europe. This is one card the Minister, Deputy Brian Lenihan, retains in his hand to play. The important thing is that if, when the Minister attends the meeting today, he considers himself obliged to obliged to accept a bailout, he should do so on his own terms and should try to ensure Ireland retains economic sovereignty and its own independence during that process.

On a separate issue, I was fortunate yesterday to be able to attend the launch of a new scheme in County Meath called the Men's Shed. It is a place to which older man can go to do things such as woodwork or metalwork or simply to play cards with gentlemen of their own age. Its purpose is to try to combat loneliness and rural isolation and it is being launched by the Third Wave Foundation. It is an example, in these desperately hard times, of how much good remains in the country and of how much promise and hope there still exists when communities come together. This is the message that Members need to send today.