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Dáil
‹ Order of Business

Debate on Greek debt solidarity

Summary

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.

Comment on this
Seán Barrett An Ceann Comhairle Fine Gael

I am sorry, but we cannot debate it now.

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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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Seán Barrett An Ceann Comhairle Fine Gael

I know, but this is the Order of Business.

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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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Seán Barrett An Ceann Comhairle Fine Gael

I suggest the Deputy table a Topical Issue.

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Is there a question?

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Inequality now presents itself-----

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Seán Barrett An Ceann Comhairle Fine Gael

We cannot debate the issue in the House.

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Is the Deputy asking a question?

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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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Seán Barrett An Ceann Comhairle Fine Gael

Will the Deputy, please, recognise the Chair?

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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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The Deputy is out of order.

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Seán Barrett An Ceann Comhairle Fine Gael

I am sorry, but the Deputy is out of order.

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It is just a gentle reminder.

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Seán Barrett An Ceann Comhairle Fine Gael

The Deputy has had a good run, but he cannot go on forever.

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I acknowledge the Ceann Comhairle has great forbearance as the Chair.

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Seán Barrett An Ceann Comhairle Fine Gael

I know. I have been obliged to listen.

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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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Seán Barrett An Ceann Comhairle Fine Gael

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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Seán Barrett An Ceann Comhairle Fine Gael

Just keep it there and it will come eventually.

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I understand the pressure.

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Seán Barrett An Ceann Comhairle Fine Gael

I will look at it tomorrow for the Deputy.

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We should show solidarity with Greece. Mr. Tsipras and Mr. Varoufakis are worthy people.

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Seán Barrett An Ceann Comhairle Fine Gael

Please, Deputy.

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Are we going to show solidarity and will Members have a debate?

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Enda Kenny The Taoiseach Fine Gael

I met the Greek Prime Minister the other day and we had a discussion.

Comment on this
Seán Barrett An Ceann Comhairle Fine Gael

I am sorry, but we must deal with that issue in some other way.

Comment on this