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Seanad
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Cyprus and Ireland’s bank debts

Summary

Senator Norris condemns the treatment of Cyprus, contrasting it with Ireland’s forced protection of bank creditors and calling for Ireland’s bailout arrangements to be reopened.

David P.B. Norris Senator David Norris Independent

It does not matter a damn. One cannot put the genie back in the bottle. He said what he meant and we all know it damn well; that this was a blueprint for the rest of Europe. I repeat it again for the assistance of the Senator. Of course it is - crucifying the ordinary, innocent, decent citizens who have done absolutely nothing wrong. Let us put the history straight; Cyprus invested massively. The reason it is in the current situation is that it invested massively in Greek bonds because it was told by the EU that they were absolutely inviolable, and then the EU turned around and blamed Cyprus for it.

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Denis O'Donovan An Leas-Chathaoirleach Fianna Fáil

The Senator's time is up.

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David P.B. Norris Senator David Norris Independent

I salute the Cypriots as a courageous, decent, wonderful people. There is no principle in what the EU is doing. It is a reversal of what was said to this country. We were bullied and blackguarded into a shameful, disgraceful betrayal of the people-----

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Denis O'Donovan An Leas-Chathaoirleach Fianna Fáil

The Senator's time is up.

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David P.B. Norris Senator David Norris Independent

-----and we did it because we were told we could not possibly interfere with the creditors of the bank, including the senior bondholders. That is now what they have told Cyprus they have to do. There is not a principle between the blackguards in Europe. The only thing about the situation from this country's point of view is that it gives us an opportunity to blow the morality and the legality of the situation sky high and go back and demand that the deal we were forced into should be reopened.

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Senator Norris and I are so alike. We both have the same matters on our agenda.

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David P.B. Norris Senator David Norris Independent

The Senator dresses more extravagantly and beautifully.

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Denis O'Donovan An Leas-Chathaoirleach Fianna Fáil

Senator Norris, we do not want a repeat of last week.

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