David Cullinane (Sinn Fein)

I ask the Leader to put pressure on the Government to block the payment of €1.14 billion in bonds which the Irish Bank Resolution Company is due to repay on 26, 27 and 28 June. Of the four separate bonds, two were held previously by Irish Nationwide Buildin Society and two were held by Anglo Irish Bank. Sinn Féin has long argued that these bonds should not be repaid in full and that a significant haircut should be imposed on senior bondholders. Our view is now shared by a chorus of voices outside the State, including the International Monetary Fund, the OECD and the European Commission. Many are conscious of the impact of asking taxpayers to repay bank bonds - debt that is not theirs - and increasing the national debt. This is not the right thing to do and I ask the Leader to put pressure on the Government to cease making these repayments.

I also call for a debate on the launch yesterday by the Claiming our Future group of its Plan B strategy. Many Senators have asked political parties and organisations to propose an alternative to the Government's economic policies. Now that a group of civic minded people has published one such alternative, the House should do it justice by debating the proposals it has made. We must debate the real alternatives people are putting forward. Many of the ideas included in Plan B are similar to ones Sinn Féin has proposed in recent years, including in our pre-budget submissions. Plan B has secured some trade union movement support, including the endorsement of SIPTU, backing from a number of significant organisations and individuals. In the light of calls made by many Senators for people to present alternatives to the Government's policies, the House should debate Claiming our Future's alternative strategy.