Seanad debates

Wednesday, 24 November 2010

National Recovery Plan 2011-2014: Statements

 

6:00 pm

Photo of Ciarán CannonCiarán Cannon (Fine Gael)

We have an existing national debt of approximately €90 billion. Bonds which will fall due to be paid by Ireland in the next three years amount to €23 billion. The ECB has already fed funding of €100 billion into our banks, while the Central Bank has pumped in another €30 billion in the past two weeks when the ECB said, "No more." Our bailout debt, to be incurred in the next three years, is €85 billion. That all adds up to just under €330 billion, an extraordinary amount of money.

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