Debate on Greek debt solidarity
Peter Mathews urges a debate on debt sustainability, inequality and solidarity with Greece, drawing repeated rulings that the matter is outside the Order of Business. The Ceann Comhairle directs him to pursue it as a Topical Issue, while the Taoiseach notes he has met the Greek Prime Minister.
Within the ambit of the programme for Government and, in particular, the acute crisis facing the new Greek Government, perhaps Members should have a debate in this House about the solidarity they must show in terms of debt sustainability for debtor nations. I do not refer simply to national debt in countries as in Ireland, we have particular problems with non-financial corporate debt and household debt which, when combined in aggregate with national debt, puts us even above Greece which is declared by anybody who knows anything about political economy to be unsustainable.
Members will have seen Cormac Lucey's recent analysis of the up-to-date debt position of this country.
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A Cheann Comhairle, I brought this matter to the attention of the Minister for Finance, Deputy Michael Noonan, in September 2011.
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Does the Ceann Comhairle recall the paper by Cecchetti, Mohanty and Zampolli on the real effects of debt, the unsustainability of debt and what happens to a political economy when it is overburdened?
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Inequality now presents itself-----
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The Taoiseach will remember the book I gave him before Christmas 2012, The Price of Inequality, which was worthy of a read.
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It outlines Stiglitz's view about what happens to an economy when education and health come under pressure and the middle economy of ordinary households-----
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I acknowledge the Ceann Comhairle has great forbearance as the Chair.
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I am appealing to his forbearance to allow me to remind the Taoiseach of these hugely important matters.
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Yes, but we cannot do this on the Order of Business. Table a Topical Issue and I certainly will consider it for the Deputy.
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It has gone forward as a Topical Issue, but it has not been drawn.
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We should show solidarity with Greece. Mr. Tsipras and Mr. Varoufakis are worthy people.
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Are we going to show solidarity and will Members have a debate?