Seanad debates

Tuesday, 9 December 2014

3:10 pm

Photo of Katherine ZapponeKatherine Zappone (Independent) | Oireachtas source

I have two questions for the Leader. I welcome the increase in the polls with regard to the referendum on marriage equality. According to The Irish Times, 71% of the electorate would now vote in favour of marriage equality. That is a finding which reflects the remarkable social and cultural change that has occurred in Ireland during the past 30 years. The Government has also acknowledged that the legislation needs to reflect this change. Across the country not only young people but also civil society groups have been engaged on the issue to encourage young people especially to register to vote in the upcoming referendums. I participated in the registration event organised by Marriage Equality, GLEN, the Irish Council of Civil Liberties and the Union of Students in Ireland. The initiative has been recorded as the most successful voter registration drive ever recorded. The views of the young could decide the outcome of the historic referendum on marriage equality. Members will be aware of the long running court case which my spouse and I have had to undertake to secure recognition of our marriage which took place in Canada. We have put our case on hold and will await the upcoming referendum which is due to take place in the spring of 2015. When will the constitutional amendment Bill be published and when is the referendum expected to take place?
Let me turn to the second issue I wish to raise. I welcome the leadership shown by the Tánaiste in the commitment she has given to the people. I refer to her recent statement that junior bondholders would not be paid in the liquidation of IBRC. The Taoiseach has made the same claim. It is important that the Government recognise that junior bondholders made a very high risk investment based on very low prices and on a speculative basis. Taxpayers never made such a choice and, therefore, are owed €1.1 billion. While there is a very low probability of it ever happening, it is important to give an absolute guarantee to the people who have paid the highest price for the disastrous bank guarantee that the State will receive every cent of the €1.1 billion owed to it. I ask the Leader to invite the Minister for Finance to come to the House for a debate on this issue and, in particular, to answer the following questions. Who will set the payment priorities? Are we an unsecured or a preferred creditor? Can the Government intervene in the special liquidator's decisions and, if not, why not? I hope we can debate the matter soon.

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