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Seanad
‹ Order of Business

ECB role in Ireland’s debt crisis

Summary

Senator Wilson accuses the ECB of undermining the banking inquiry and of forcing Ireland to assume excessive debt during the economic collapse.

I agree with colleagues that the timing of Mr. Draghi's letter to the Chairman of the banking inquiry was a deliberate attempt to subvert that committee's efforts to reach real conclusions about what happened when the economic process in this country collapsed and this country was forced and blackmailed by the European Central Bank into taking on board a huge debt on behalf of the people. I do not believe we should have had to take on that debt. As Senator Denis O'Donovan said, if we are able to extradite somebody from Brazil for €80 million of outstanding debt, the least we should expect is for the president of the ECB and the former president of the ECB - the president at the time - to attend the properly constituted banking inquiry being held by the Houses of the Oireachtas.

I agree with the Senators who have said the Taoiseach should come into the House to give us an update on the discussions in Northern Ireland. Thankfully, huge progress has been made on this issue, particularly in ensuring peace, in the past decade or so. It has been a victim of its own success, as far as the Government is concerned. The process has been totally ignored and not supported in the way it should have been. The Taoiseach needs to come to the House to give us an update on what exactly he proposes to do to ensure progress is made to resolve the difficulties in the North of Ireland.

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