Eugene Regan (Fine Gael)

One of the fundamental issues that must be addressed by the Government is the EU-IMF bailout deal. Senator O'Toole mentioned that promises were made to renegotiate it. The fact that the deal is unsustainable for this country makes it imperative that it be renegotiated. I do not think we should second-guess how the Government plays its cards on this one. There is much damage that must be undone.

There is also the question of rebuilding our reputation in Europe. We must get the facts out about the significance of the 12.5% corporate tax rate, including the fact that this is not the lowest rate in Europe and, particularly, that it played no part in the crisis in our economy. That will take time. The Taoiseach's strategy of not rushing the fences in the European Council this week will be proven to be correct.

Lest we do not have the opportunity again, as this may be our last occasion to meet, I must say that I have found it a privilege to be a Member of this House. The manner in which business has been conducted has been exemplary, and much of that is due to the Cathaoirleach, Senator Pat Moylan, who has conducted business in an even-handed and fair way.