Maurice Cummins (Fine Gael) | Oireachtas source

Senators Ivana Bacik and Michael Mullins referred to the commemoration of the 20th anniversary of the Srebrenica massacre. The commemoration held outside Leinster House was dignified and, as has been mentioned, the official commemoration will be held at a later stage.

Senator Ivana Bacik complimented the captain and crew of the LE Eithne, who certainly have done tremendous work. I believe they will be replaced in early course by another of our naval vessels.

Senator David Norris, among many other Senators, spoke about the situation in Greece. It is to be welcomed that the Greek Prime Minister will present new proposals today to deal with his country's deepening debt crisis by seeking another bailout. It is also to be welcomed that the European Central Bank will continue to provide emergency liquidity assistance for the banks. I agree with the comments made by Members that there should always be flexibility to accommodate changes to bailout programmes sought by governments. I remind Members that when the Government took office, it secured significant changes to our bailout programme. It replaced the €750 million in further income tax increases agreed to by the previous Government with alternative measures that were less damaging to jobs. The Government secured agreement to reverse the cuts made by Fianna Fáil to the minimum wage, to cut the lower rate of employer's PRSI for three years and to cut the VAT rate for the tourism and hospitality sectors from 13.5% to 9%, which resulted in the creation of more than 30,000 jobs.The Government also secured interest rate reductions on the bailout debts and got rid of the promissory notes relating to the IBRC.