madam president as an irish mep i am asking the eu to deal equitably with an impossible financial situation in ireland
yes we have to take responsibility for our many failures but we did not act alone
casino-type investments from many countries flooded into irish banks
they have collapsed like a house of cards and irish taxpayers are shouldering an unbearable burden
we pay a punitive interest rate of five point eight and our ability to repay signed off in a four-year austerity plan by the eu is predicated on growth but that growth cannot happen
why
unemployment is increasing even as emigration is rocketing
businesses are collapsing and for the fourth consecutive year our gnp has decreased
and as the ecb funnels eur one hundred and thirty-two billion in the front door of irish banks eur one hundred and ten billion has fled out the back door of those same banks in twenty ten eur forty billion in december twenty ten
the situation is fast becoming untenable and if as president barroso said europe is part of the solution serious action is needed now
