Geraldine Feeney (Fianna Fail)

Senator Ross's contribution was misleading. I will not take up my time going over the reason it was misleading but he was disingenuous when he said the average interest rate over five years is 5.8%. He knows as well as I that €17 billion of that funding is our own money and that we are getting €22 billion from the IMF. While the remainder is coming from Europe and is expensive, it may not all be drawn down. That is the reality. Through the measures being taken by this Government in budget 2011 we will get our credit worthiness back and will not need to draw down all of the money.

I was appalled by the depths to which Senator Ross stooped when he spoke about the Government appointing cronies to boards. The people concerned include former Deputies Dick Spring, Alan Dukes and Ray MacSharry, Mr. Mike Soden, Mr. Michael Somers and others. Senator Ross has a cheek to make fun of and accuse men who have served their time as politicians in these Houses of being Government cronies. Shame on Senator Ross. I am sure if future Governments call on him, because of his expertise in economics and finance, to become a member of a board he will not refuse to take up such a position because he might be viewed as a Government crony. Shame on Senator Ross. I am surprised. I have always had the height of respect for Senator Ross but, in my opinion, he stooped to an all time low today. Are Government appointees to the Judiciary also cronies? Is it cronyism when these people deliver judgments? I fear the Senator's response in that regard.

Senator Bacik spoke about Fianna Fáil buying the last election. What an insult to the Irish electorate.