Ciarán Cannon (Fine Gael)

This debate on the publication of a four year budgetary plan is a waste of time, as those delivering it have no credibility whatsoever. We cannot believe a word they say because every intervention and projection they have made in the past two years has proved to be disastrous. Several of the statements made show how incompetent the Government has been.

In January 2009 the Minister for Finance, Deputy Brian Lenihan, stated in the Dáil that both Bank of Ireland and Allied Irish Banks were "fundamentally sound and solvent institutions." Eight months later he said NAMA would:

... ensure credit flows again to viable businesses and households by cleansing the balance sheets of Irish banks. It will ensure we avoid the Japanese outcome of zombie banks that are just ticking over and not making a vibrant contribution to economic growth.

Last September he said he was "bringing closure" to the banking nightmare the people had had to live with since September 2008. However, there has been no closure. Not only is the nightmare set to continue, but it is to be of historic proportions, with Ireland, the economy of which represents a tiny 1.7% of the EU economy, now owing 20% of the European Union's banking debt.

The Green Party has belatedly recognised its Government partners' incompetence and effectively fired them this week. If the financial controller of a bankrupt company was to be fired for incompetence, would he or she demand he or she had a right deliver a four year strategy for that company on his or her way out the door? Most certainly not. If the members of the Government had even a modicum of shame or patriotism left, they would have left the stage a long time ago. Their very presence in government is a major factor in our continuing downfall.

Last night on TV3 some of us witnessed a defining moment in public service broadcasting when the clouds of obfuscation and deceit surrounding the bailout were swept away and the real facts surrounding the proposed IMF-ECB loan scheme emerged. Figures of €6 billion or €15 billion were dwarfed by a projected total national debt of €330 billion. Saddling the country with this debt is not alone immoral, it is also completely unworkable.