I wish to express my sincere sympathy to the family of Garda Ciaran Jones who, though off duty, was trying to assist others in the very sudden flooding which occurred yesterday. His last act was one of great bravery and courage and our sympathies go to his family and friends and also to the young woman who also died. She was found dead this morning as a result of the flooding. I pay tribute to all the emergency personnel for the work they did.
From the little that has been revealed so far, it is hoped there will be sign-off this week on a package of measures which will see the eurozone out of crisis mode. Unlike the governments of other countries, the Taoiseach has not told the House or the people about either his negotiating position or what has been proposed. The Bundestag is receiving a very detailed presentation on exactly what is being discussed, yet all we have heard from the Taoiseach and members of the Government is vague generalities that he expects everything to be all right on the night. Separate to this, his Ministers had been accepting praise for a budget which they voted against.
Will the Taoiseach tell the House exactly what is Ireland's position in regard to these negotiations? Are we supporting a Greek restructuring of up to 60% in terms of a debt write-down? If Greek sovereign bondholders are being burned widespread recapitalisation of banks will have to be undertaken. This represents the first and probably only opportunity we will get to force bondholders to share the burden in Ireland. That is hugely important for us as a country because the two consistent road blocks to burning bondholders in the Irish banks will be removed. A sovereign default and bank recapitalisation are what we were told would be risked by unilateral action.
Has the Taoiseach put this issue on the summit agenda for discussion? Will he insist there will be no deal unless our concerns are addressed? To miss this first and probably only opportunity to burn senior bank bondholders would be an opportunity lost. Will he confirm if he discussed the specific issue of not restructuring Ireland's bank debt with Chancellor Merkel on Sunday last?