I am not so sure that the so-called debt conference would not be, at least, premature. As we know, the Greeks are currently showboating and touring European capitals, but we are not too sure what they are seeking.

They are seeking justice.

At a minimum, they are seeking some new kind of bond-swapping or bond-switching arrangement that is probably poppycock. I would counsel caution. We must show solidarity with our-----

Bond banks.

-----neighbours and friends in Europe. We should await the outcome of the ongoing discussions before making any premature move. We are in a different place and must protect ourselves in the first instance, so let us pause awhile.

I have great respect for Senator Paul Coghlan and Senator Gilroy but I am a little surprised at this reluctance to support the concept of a debt conference. It is one thing to suggest that we should express solidarity with our European colleagues, but they did not show much solidarity with this country when we were in need. In fact, they showed absolute contempt for the Irish people, given the manner in which they handled things. They then changed the rules so that if the situation that developed here occurred in another country, that country would get a bailout without any of the penury that has been visited on the Irish people in recent years as a result of the unsustainable debt. The term "unsustainable debt" was used by Moody's in its latest report on Ireland, which is carried in today's media. Why should we not get involved in a debt conference if it will mean that we can at least discuss Ireland's unsustainable debt?

Exactly.

In recent days, I have heard the Minister for Finance, Deputy Noonan, say that he expects to recoup up to €30 billion of the Government's investment in the banks. As the old saying goes: "Live horse, get grass." That may or may not happen, but I feel it is unusual. I have still not received clarity from anybody on the Government side as to why they are against the notion of engaging in a debt conference, particularly as we have unsustainable debt.

I wish to formally second the amendment by my colleague, Senator O'Donovan.

I rose primarily to express my astonishment at the decision by the Department of Children and Youth Affairs to withhold a measly €1 million of lottery funding which traditionally goes to youth organisations and others across the country. For example, the Father Peter McVerry Trust announced that it would lose €12,000 of State funding from the lottery, which it would have used for the homeless. I find it extraordinary that on the one hand the Government is expressing sincere sympathy with the homeless and taking action in that respect, while on the other hand allowing an organisation that helps the homeless to lose €12,000. The Government is withholding a measly €1 million out of a total budget of approximately €240 million. The Leader should ask a Minister from the Department of Children and Youth Affairs to attend this House to explain exactly what that budget is being spent on. This unacceptable decision will affect a wide variety of youth organisations across the State.