Shane Ross (Dublin South, Independent) | Oireachtas source

He came before the Oireachtas Joint Committee on Finance, Public Expenditure and Reform and said something about that, but what is happening? Absolutely nothing. It is quite obvious that the Personal Insolvency Bill, which was set up to sort out that problem, is not going to sort it out. The signals coming from the Central Bank are that we have a major crisis, much bigger than that of the promissory notes, facing us in the months to come, yet we are refusing to deal with it. Let us see this from the perspective of the real problems in the economy. It is only scratching at the surface and is not an achievement in terms of the very large write-off that was necessary. That is the only way the people could have felt it. It is all very well to say, as the Minister of State has said, that we have done well in the Financial Times - Wolfgang Münchau has congratulated us - and The Wall Street Journal. All these wonderful international and global newspapers are praising us for it.

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