Paschal Donohoe (Fine Gael)

Some colleagues have called for a debate on the future of our Legislature and the need for change in that regard. There is a deeper force at play here which is beginning to manifest itself. The people to whom I have spoken believe that it does not matter for whom they vote in the next election because the Irish Government will not be running the country anyway. There is a growing volatility out there and a growing tendency for people to say that the only vote they want to cast is a protest vote, a vote against what is going on as opposed to a vote for a better future.

I am concerned that the change we are about to go through, some of which will be crystalised this afternoon, will unleash in this country forces of political extremism that will be on a par with those with which we had to deal in terms of our challenges and difficulties in regard to Northern Ireland. We must all face up to the possibility of this happening. Those of us who are in the centre now have a responsibility at least to speak responsibly and honestly. I want to pick up on two comments made in the House today, in regard to which I believe honesty was lacking. The question was asked as to the ECB is doing for us. The ECB is largely financing NAMA, regardless of whether people want it. It is probably the only bank that is buying Irish Government debt. Few others in the private market are doing so. It was inferred earlier that Ireland should consider defaulting. The example of Russia and Argentina as countries which have done so successfully was given. I ask those who make that argument to quote one example of a tiny highly globalised economy, utterly dependant on outside investment, that has ever successfully done so and lived to tell the tale.

Ireland cannot be at the vanguard of some experiment in which its destiny and security is at risk. If we are asking for the centre to hold - I believe the pressures on us in this regard will never be greater - then there is a responsibility on people at least to recognise the facts and not to give credence to people on the extremes.