Seanad debates

Wednesday, 23 January 2013

10:50 am

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

I ask the Leader for a debate, as soon as possible, on the report being launched today on suicide, which highlights the fact that the incidence among young people here and in Northern Ireland is directly related to austerity measures and the recession. The two nations with the biggest increase in the incidence of suicide are Greece and Ireland, where the increase has been very substantial. While no one doubts that the Government is trying to do its best in the context of national recovery from the recession, it is incumbent on us to remind ourselves regularly in these Houses that things like the promissory note and the payment of ยค3.1 billion to the IBRC are on-the-moon stuff for people on the street who are struggling to eat and pay bills.

I am conscious of the level of coverage of the Personal Insolvency Bill 2012 which puts the banks in complete control, but it will be practically useless in delivering for people on the ground. Banks are already offering debt forgiveness and debt write-downs for certain businesses. Whether through public interest directors or directly with the banks, we need to legislate to ensure debt forgiveness and debt write-downs are available to real people on the street because the debate on promissory notes and better deals on sovereign debt is taking place on Mars or the moon for the genuine citizens of Ireland who are struggling. We do not need the moon stuff; we need to help people on Earth, on the ground and the streets.

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