Seanad debates

Wednesday, 27 June 2012

European Stability Mechanism Bill 2012: Committee and Remaining Stages

 

12:00 pm

Photo of David NorrisDavid Norris (Independent)

I live in the real world, which is not one where one who has no money promises to pay.

As I stated yesterday, when the guarantee which has got us into the mess in which we find ourselves was before the House, I asked what the ultimate figure would be and was told it was €400 million. When I asked what was our gross national product, the officials did not know. They had to go out and make a telephone call to find that it was €200 billion. The position is the same on the issue of insurance. Against what is one insuring? I am considering my insurance policy because it is difficult to pay on a house with the furniture I have and I do not know I can afford it.

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