Paul Bradford (Fine Gael)

I welcome the Minister and his delivery of Second Stage of this short but important legislation. As he correctly stated, it is important that we show solidarity with Greece. We must also show solidarity with the euro, which is the currency of Ireland, Greece and many other EU countries.

We could debate Greece, Ireland and our relationship at some length, but we do not have the time. As several Senators stated, it is important to highlight without any kind of negative connotation the fact that there is a difference between Greece and Ireland. The current phase of economic recovery in Ireland following 12 months of cautious management is progressive and charts a new way forward to help people return to work. Any facility, be it this one or another, that allows the Greek people to move in the same direction must be welcomed.

We must maintain the aspiration for a politically and, in so far as is possible, economically united Europe in which countries help one another. There have been many glib comments about the Greek situation, burning bondholders and being macho. We heard the same comments in respect of Argentina approximately ten years ago. One of my Oireachtas colleagues, Deputy Creed, happened to be in Argentina at the time. Speaking with him about it is interesting. He will remind one of being on the streets of Buenos Aires when middle class people were selling their furniture on the street outside their front doors. That is what all of this talk of burning bondholders, ignoring debts and being macho and brave meant for Argentina. It could mean the same for Greece and would mean the same for Ireland. The commonsensical economics and politics that Ireland now enjoys are necessary.

A programme was put in place for Greece and is being adjusted. We must support it and encourage the Greek Government and people to turn their economic affairs around. After Ireland's decade-long mismanagement, we cannot lecture any country on how to do its business, but the taxation and revenue collection systems in Greece need to be addressed.

A sense of solidarity is required. Senator Mooney referred to Chancellor Merkel and the possibility of German politics intervening. We must take into account the fact that there are German and French elections on the horizon. The message from the Seanad is that we support the Bill and that we want Greece to survive and remain within the euro. The euro is not just a concept, but a currency that we use every day of the week. It needs to be strong and its member states must return to economic sanity.

I welcome the Bill and thank the Minister for his comments. Obviously, I wish him well in his quiet, but effective ongoing work in tackling Ireland's financial obligations on the international stage. Results will be achieved. It is not a matter for megaphone diplomacy, but for quiet work and I do not doubt that the Minister will succeed.