Maurice Cummins (Fine Gael) | Oireachtas source

Senators MacSharry, Norris, Ó Clochartaigh and others raised the issue of the proposed Cypriot bailout. Despite any irresponsible innuendo to the contrary, I wish to make it clear that there will be absolutely no impact on Ireland, on Irish depositors or on our corporation tax rate as a result of this proposed bailout. There are no signs of contagion in respect of Ireland. In that context, Irish bonds continue to trade at their lowest yields in many years. Unfortunately, and as a result of the catastrophic policies pursued by previous Fianna Fáil Governments, Irish people are far too familiar with the cost of rescuing banks.