Mark Daly (Fianna Fail)

While I take on board all that was said by Senator Quinn, I ask the Leader for a debate on what emerged last night. There is now talk of a referendum next spring. As I told the German ambassador, when he was in the Oireachtas during the summer, and to his colleague from the Bundestag, there is no chance that a referendum will be passed in Ireland. It is as simple as this: if the Greeks get a write-down on favourable terms and we do not get the same deal, we will have to acknowledge a direct link between our continuing to pay back money in a manner no longer required of the Greeks and the closure of Garda stations and the withdrawal of special needs assistants. When that is put to the people, as it should be, they will reject the referendum on the basis that Ireland has less favourable terms than other European states. Nice words from Ms Angela Merkel and others are not simply enough. Very limited comments this morning indicated that the markets welcome the development. The thinking behind the referendum is based on the creation of a more centralised Union, basically a united states of Europe. The constitution that the Union tried to pass was shot down by the Dutch and will not be passed by the people under duress.

I welcome my Kerry colleague's seeking of transparency in NAMA. He was obviously reading transcripts of my statements on the lack of transparency therein.