Kathryn Reilly (Sinn Fein) | Oireachtas source

The Government did not receive a mandate to bring forward these laws that, to quote Chancellor Merkel, will be binding and valid forever. These rules have been forced upon us as part of a stripping exercise. I do accept there was a referendum and that people voted for the treaty, but it was a referendum based on fear. The point was made that we had no choice but to accept it because there was a linkage to the ESM, which was essentially our safety blanket.

We must accept that growth will not be possible, nor will reaching these figures be possible without damaging society. We talk so much about the economy but we also need to talk about the effects on society. There will be no growth without the deal on our banking debt and the question of promissory notes. We require more clarity on what is going to happen arising from the June 2012 European summit meeting. I would be grateful if the Minister could provide such clarity on what will happen and how this special case will be dealt with.

It is a bad Bill and we will be opposing it, as Sinn Féin opposed it in the Dáil. However, we will be tabling amendments to remove the most economically and socially damaging aspects of the legislation.