David Norris (Independent) | Oireachtas source

The Commissioner is very welcome. He and I were both elected to this House in 1987. I am glad that we have a tough Commissioner in Europe and he is that tough person. I have to say, however, it is fairly typical that the scripts were supplied to civil servants and the media, but not to Members of the House. That is indicative of an attitude in Europe.

Can the Commissioner explain the policy of the EU, and many of the constituent governments, in rescuing and protecting the financial institutions, while ignoring the welfare of citizens? This is endemic throughout Europe and I think it is an absolute disgrace. For example, Ireland was forbidden to burn the bondholders, while Cyprus was forced to do so. Ireland was compelled to take up the gambling debts of the French and German banks, which took a risk on the building boom here, yet they go around telling people that they rescued us. It is completely the other way around.

What about the ratings agencies, such as Standard & Poor's? They got absolutely everything wrong and were involved in the bungling in America that catapulted us into this financial mess. What has happened to restrain them? Goldman Sachs was criminally implicated in cooking the books for Greece, but what has happened to it? Has anything been done by Europe to restrain these institutions? Can the Commissioner explain the shameful treatment of Greece and the non-disclosure of the various proposals to the Ministers who are supposed to discuss and decide upon them? It is nonsense. It is a democratic farce. We are told that the Greeks did nothing. An article by Mr. Yanis Varoufakis in The Irish Timesstated "wages contracted by 37 per cent, pensions by up to 48 per cent, state employment by 30 per cent, consumer spending by 33 per cent and even the current account deficit by 16 per cent". Total income fell by 27%. One cannot squeeze blood out of a stone. What is happening to Greece is a reproach to democracy and a disgrace to this country. This country stuck the knife into Greece as hard as any other European country and I think it is utterly regrettable.