Seanad debates

Tuesday, 7 June 2011

2:30 pm

Photo of David NorrisDavid Norris (Independent)

I have already complimented the Independent group so I do not feel it necessary to do so again. They know my good wishes.

I ask the Leader for a debate on the economy. I refer in particular to relations with our European neighbours. I welcome the fact that, in recent days, ambassadors were recalled to be briefed and sent out again to inform our European neighbours. This must be a two-way process. I am glad our ambassadors are involved in this. The German people and their representatives are, by and large, well disposed towards the Irish people and the Irish Government. That is good but some of them may be under some misapprehension. I hear talk about German banks bailing out the Irish people. In fact, it is the other way around. The Irish people, at enormous cost, pain and damage to institutions, including a reduction in special needs assistants and damage to health institutions, are bailing out our own and the European banking system. This includes substantial sections of the German banking system. They need to know that the Irish taxpayer is bailing out the German banks because they unwisely took a punt on our property bubble. That message must be got out there.

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