Maurice Cummins (Fine Gael) | Oireachtas source

I welcome the Minister of State to the House. When we were here at 6 a.m. last Thursday people asked where the deal was and said we have no deal but we concluded a deal the following morning. The result of the deal is far better than any economic commentator would have envisaged - that is a fact - except for those who have advocated default and we all know where that would bring us. It would wreak havoc on the most vulnerable in the community, more so than people are talking about in terms of austerity. Default would have meant much more. We had Sinn Féin Members here again this morning thriving - these are the people who thrive on the misery of others. Their interest is self-interest and not what is in the interests of the people.

There are very real and significant benefits for Ireland and its people with this new agreement. It will deliver new jobs and new investment. The reduction in the State's cash borrowing requirement over the ten years by ¤20 billion has substantially improved the State's debt and that has been acknoweldged by the vast majority of Members who have spoken here. The improved investor confidence, as demonstrated again by other speakers, by the upgrade by Standard & Poor's and the ratings agencies, is a vote of confidence----