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Cyprus bailout negotiations

Summary

Senator Ó Clochartaigh backs Cyprus’s rejection of the proposed levy and urges the Government to support a fairer European deal.

We will be calling for that during the debate.

I commend the Cypriot parliamentarians who stood up for their citizens last night in a very robust manner. I hope our Government will support them at European level to negotiate a fairer deal for Cypriot citizens. I add to the calls for the Minister for Finance to come in and debate the EU decision to impose the proposed deal. Did he agree with the smash and grab tactics employed by the troika, which the Cypriots wholeheartedly turned down? Fair play to them for having the gumption to do that. It is a shame we did not have a much stronger, resolute way of dealing with the troika when it came to dealing with our financial crisis and that we did not make it go back to look at the European nature of the crisis and the real debt issues, rather than impose all of the burden on our citizens.

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