David Cullinane (Sinn Fein)

I cannot agree with such daftness, given the option of direct recapitalisation. That option should be available. We are asking states that are essentially bankrupt to borrow money to invest in a fund from which they will take back that money. I have not been reassured by the Minister of State's response. If anything, it has reinforced my opinion that the treaty will not work.

It is interesting that we are being primed for another treaty. We must understand that some people are following a different agenda, that is, a completely federal Europe and an ever closer union. Those people are using Ireland's economic problems as an opportunity for another power grab in Europe and further centralisation of power. We will discuss this issue further in terms of Senator Norris's points on the inviolability of the people who will manage the treaty. They will seek additional powers.

None of this is a solution to the problems facing Europe and this country. On that basis, we will push this section to a vote.