David Norris (Independent)

The political correspondent of The Sun on Sunday, if I may use that term of the Taoiseach of this country, Deputy Enda Kenny, signed an instrument which contained a blackmail clause. He did not have to do it. He had the option of using the Irish veto, but we are now tied into it. If and when the instrument is signed we are consigned into a situation where goals of financial austerity are set that are totally unachievable in any conceivable timescale. Let people know that this is what is happening. Austerity has not worked ever in the history of the economy. It is devastating the economies of European countries as we speak.

We threw away the one card we had. As a result we have placed ourselves in an extraordinarily difficult situation. Let us look at what we are doing and how we are addressing it. Just before Christmas we appointed people from Goldman Sachs to the board of the Bank of Ireland. We are putting Goldman Sachs in charge of unloading our bonds if the market ever recovers. We have not learnt that it is the system that is rotten. I will continue to repeat-----