Debt restructuring for Greece
Senator Cullinane supports a debate on Greece, criticises the previous bailout approach and Irish Government commentary, and argues for debt restructuring and a sustainable recovery.
I support the call by Senator Darragh O'Brien for a debate on Greece. We need to have a discussion on the role of the Government in this, which is essentially what he called for.
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The Senator is playing a blinder.
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I will come to that, Senator, with respect.
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We might have a debate on the role of Sinn Féin as well.
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Absolutely. I would have no difficulty with any such debate if people would allow me to make my contribution.
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Go raibh maith agat, a Chathaoirligh. We are served up a number of gems on the Order of Business and we have had two classic examples today. The first was from Senator Michael Mullins, who is in the Chamber, who said that the Greek Government had raised unrealistic expectations. In fact, what the Greek Government wanted to do was exactly what Senator Jim D'Arcy said, which was to clean up the mess created by previous Governments, who created the problems in Greece in the first place.
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It was the two previous bailout programmes, supported by the troika and parties associated with Fine Gael and the Labour Party, which created the deep problems in Greece. At least the Syriza Government wants to see taxes collected from the wealthy, the oligarchs and the well-off in Greece, who have not been paying their taxes, as well as others. At least they are committed to doing-----
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At least they are committed to doing that, unlike the Senator's sister parties, which failed in Greece. What the Greek people need is not Brian Cowen or anybody else being sent to Greece to heap more misery on them, but debt restructuring and debt reprofiling. That has to be a centrepiece of this deal, which many people would call a diktat because the Greek Government and the Greek people were not given any choice. What was appalling was statements made today by the Minister for Finance, Deputy Michael Noonan, and the Minister for Public Expenditure and Reform, Deputy Brendan Howlin, who said the referendum was unnecessary, and not only unnecessary but a grave mistake, because essentially it turned off the tap on the banks. The taps were turned off before the referendum. There was an attempt to have a cash famine in Greece, with the German Government and others deciding to cut off liquidity to the Greek banks to put huge pressure on the Greek people and Government. That is what happened. That was a decision taken by the ECB. It was a political decision taken by the more powerful blocs in Europe to prevent a fair deal for the people of Greece.
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The reality is that the banks were closed when the referendum took place. That appears to have escaped the minds of the two Ministers who made their comments today.
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What we need is a debate in order that we can have a discussion on this issue. I do not believe that what was agreed will bring about the type of sustainable economic recovery that is needed in Greece. What we are trying to prevent is our being back here again in six months' time or a year-----
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-----when matters are worse because we did not have a comprehensive agreement that would sort out the problems in Greece.
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I would welcome a debate on this issue. Let us have a sensible debate on the issue in which we can leave behind political charges being made by the Government representatives and discuss the type of deal that is necessary for the people of Greece.