Quebec's financial situation is serious. In terms of intensity, we're close to matching 1982 and 1997. We won't do the same things this time, but the problems we face today are about as pressing.

In Quebec, we can no longer increase taxes if we want to stay competitive.

I think this is a line in the sand for many Quebecers and Canadians: That if you're going to give services or receive services, your face should be uncovered.

Hey, the bait is here. Get in Quebecers, get in the lobster trap, and then we'll close the door. And you'll have a referendum no matter what.

I've repeated it 100 times and I'm going to look you in the eye, tonight, Mr. Couillard: there will be no referendum as long as Quebecers aren't ready.

I belong to a generation that had so many choices available. In 1970, when [former premier Robert] Bourassa launched the James Bay development project, nobody in Quebec asked whether we had the means to do it. Today could we launch another James Bay? Imagine the debates we'd have? We were a young, rich society with almost no debt. The generation that comes after us, and which will lead Quebec, must also have choices. And for that, they'll need financial manoeuvring room.

Quebec's financial situation is serious. In terms of intensity, we're close to matching 1982 and 1997. We won't do the same things this time, but the problems we face today are about as pressing.