Seanad debates
Thursday, 1 December 2011
Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion
12:00 pm
John Gilroy (Labour)
The argument has moved on since 2008, having regard to EU state aid rules and the opinion of the European Central Bank. It has been said that the train has left the station and I suppose it has. We need to move with the changing situation. We have secured a substantial discount in our interest rates and while we have not claimed to have cured the situation, we are moving in the right direction. Any fair-minded commentator would agree with that. The Labour Party is supporting the extension because we do not wish to return to the uncertainty and chaos caused by the Fianna Fáil-Green Party Government. If we are to reach our goal of reclaiming our economic independence, protecting jobs and adding and maintaining confidence, it is vital that we do so today.
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