Paschal Mooney (Fianna Fail) | Oireachtas source

I wish to pick up on the points made on the forthcoming summit by Senator Coghlan. I do not imagine there is anyone on this side of the House who would not support the efforts of the Government, led by the Taoiseach, to try to decouple the sovereign from the bank debt. Ultimately, that is a partial solution to getting us out of our economic woes. However, criticism has been levelled at the Taoiseach and the Government following the meeting that took place between the three finance Ministers. There has been government to government contact and given that three quarters of the Cabinet were in Brussels recently it should have afforded an opportunity, at least on a public relations basis, for the Taoiseach to have requested a meeting with the Prime Ministers of the relevant countries. At the very least there should have been a meeting held with the finance Ministers concerned, who seem to have taken a unilateral decision. Admittedly, they are very powerful but it raises the point about how successful we can be.

Unless we are successful, we will have serious difficulties in trying to get rid of our debt. We can talk about reducing our deficit to 3% of GDP until the cows come home but if we cannot get rid of the unsustainable bank debt and get it removed from the sovereign, then we will be running fast to stand still and into the next generation. That is why concern is being expressed on this side of the House. Whether it is a lack of awareness within the Government of the impact this is having on the public, there is a perception that we are not trying hard enough and that perhaps we should be playing hard ball.

It is obvious to the dogs in the street that Ireland was used as a guinea pig by the European Central Bank in particular. Mr. Trichet's remarks recently to the effect that the bank went the extra mile to help Ireland were not helpful either. It is perfectly clear that there is correspondence within the Department of the Taoiseach that forced the former Minister for Finance, Brian Lenihan, God rest him, to force Ireland into a bailout against the wishes of the Government of the time. It is time that those responsible in Europe stood up and did what they were supposed to do.

I fully agree with all the comments made. Whatever happened at the summit in June and irrespective of the meeting that took place subsequently between certain finance Ministers, the Taoiseach and the Government should stick closely and rigidly to what happened. Will the Leader entertain the notion that the Minister of State with responsibility for European affairs would come to the House to give a post-summit briefing? That would allow an opportunity for us to tease out these issues.