if you want to negotiate a better deal, eamon gilmore, what is your plan? >> it is not going to work. it does three things. believes the average taxpayer completely responsible for the deaths of the banks. that is not fair. there has to be sharing -- responsible for the debts of the bags. the money is being lent to ireland at a 3% interest premium. that is not fair. there is a straitjacket on any future government in terms of its budgetary strategy. it has been done within three years. it will drive down the economy. it will prevent growth from happening and jobs being created. the european commission has to acknowledge it will cost an extra $5 billion if we attempted to do that within three years. we knew need to insure that the banks -- that the interest rates it is produced and that we're given -- >> in micheal martin, if your car in gear shifting this bill, what is your strategy? >> anyone can renegotiate this deal is not being honest with the irish people. i did nothing it is the way for labour. what has to happen. the package is a facility to borrow m

eamon gilmore, on the bondholders? >> there are two fundamental problems that fi in -- fianna fail have here. first thought advertised the bank bailout strongly. that's now resulted in the fortunes offer -- or misfortunes of the banks being tied to -- >> stick with the bondholders. >> yes. that's why we ended up not able to borrow on the international markets. fianna fail denied week in and week out that they were anywhere on the scene. you then did a deed within the space of a week in a hurry at a time when there were other countries in the firing line and the e.u. itself was in the firing line. the deal was a sellout of ireland. it doesn't work for ireland and doesn't worg -- pork -- work for the european union the mr. cowen, your boss at the time, said that the interest rate couldn't be changed. -- >> what about bondholders? >> on bondholders it's not fair and not right and not sustainable that the irish tax pair has to pay the full cox and burden of bad decisions made in the banks. >> but our european -- >> our eur

if you had the option to negotiate a better deal, eamon gilmore, what would your plan be?of all it needs to be renegotiated, because it does not work. first of all, it leaves the average taxpayer completely responsible for the debts of the banks. that is not fair and it will not work. secondly, it imposes an excessive interest rate on the irish people. at a 3% interest premium, it is putting a straitjacket on any future government in terms of budgetary strategy that would have to be done within three years. if that is attempted, it will drive down the economy, prevent growth from happening, and jobs from being created. the european commission itself has acknowledged it will cost extra if we try to do that within three years. how can we be negotiators across those areas, making sure that banks and bondholders bear the responsibility for those investments, interest rates are reduced, and we are given space. >> we will ask you to debate between yourselves in a moment. firstly, michael martin, you are the people that negotiated it. what is your strategy? >> first of all, anyon

. >> thank you eamon gilmore. at the outset, you locate your statements and you will agree that this country at the moment is facing challenges it has never faced before. people are frightened. they are looking for honesty and straightness. are you being straight with the electorate which a market in particular about the scale of the problem we're facing the hard road that lies ahead? >> yes, and. -- i am. the stress test on the banks was not published until the end of march. the solution, cynical about politics, and they have lost the feeling that the country means something in reality to their lives. over the last two years, fein gael look to the structure that needs to be thick, looks at the mess that our country has been left in by fianna fail, and that is why we attempted -- adopted are 5-point plan. that means jobs, growing our economy, the fiscal strategy, changing our help structure, which will mean more in the civil services. it will deliver more efficient, more effective public service. and finally, we w