Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-20-Speech-1-198"
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"en.20100920.21.1-198"2
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"Mr President, it does not give me any pleasure to know that, as I stand here tonight in front of you, the EU is watching the economic developments in my home country of Ireland extremely carefully.
Today, Irish bonds hit an interest rate high of 6.5% and the situation in Ireland is very challenging. The cost of borrowing is, in fact, the most expensive it has ever been for my country. People back home in my constituency are asking how we got to that point. The simple answer is pure greed.
I was happy that Commissioner Almunia recently effectively insisted on closing Ireland’s ultimate zombie bank, Anglo Irish. The Commission had to take action as this bank was endangering the future of my very country. Anglo was to cost us EUR 2 billion, then 5 billion, then 10 billion. Will we find out next month that Anglo is going to cost us north of EUR 30 billion?
The Irish are a resilient race. We will get through this, but only with the help of the ECB and through political stability that would be helped by an immediate change of administration back home."@en1
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