Darragh O'Brien (Fianna Fail)

I raise this because the Taoiseach has reiterated yet again, in advance of the very important summit in New York today, at which I wish him, the Tánaiste and the Minister for Jobs, Enterprise and Innovation, well, that we will not seek debt write-down of any part of our banking debt. I remind Senators this is completely contrary to what was said prior to the election.

In being so forthright on this matter, the Taoiseach has played his hand far too early with regard to Europe. There is no question in my mind. The Taoiseach will go to New York today and I wish him well at this very important economic forum. I remind him to be careful in the comments he makes today. The last time he was at a large economic forum, in Davos, things ran on and he said certain things he did not mean.

It is very important we put on record today that in regard to debt write-down, the Government has stated it very clearly it will pay all debts. Given that this statement made in advance of the completion of our negotiations, and that in this House, the Minister of State, Deputy Creighton, stated that debt write-down was central to the negotiations on fiscal compact, what is the situation? Is the Taoiseach correct in stating we did not seek a write-down, or is the Minister of State correct in claiming that we did? Perhaps the Leader can let us know the true position.