Mr. Seamus Maye:

I was just giving an example of the indigenous economy and what we can do. It is worth taking about the beef sector in the context of that economy. The fifth quarter is the waste product for which farmers are not getting paid. They do not get a cent. It consists of the heart, liver, kidneys, tongue, stomach, skirt, tripe, intestine, embryonic fluids and so on. The fifth quarter is the most valuable part of the animal but there is no money to back farmers to set up co-operatives to process the fifth quarter. For example, the fifth quarter is now used in the making of pharmaceuticals, cosmetics, household and industrial goods, ointments, binders for plaster and asphalt, footballs, lubricants, soaps, lipstick, face and hand creams and ingredients for explosives. In addition, fatty acids are used in the production of chemicals, biodegradable detergents, pesticides and flotation agents. Bones, horns and hooves are used to make buttons, bone china, piano keys, glues and fertiliser, and also gelatine for photographic film paper, wallpaper, sandpaper, combs, toothbrushes and violin string. More than 100 individual drugs, including insulin, are derived from cattle. That is the answer for our agricultural sector. If, however, one approaches AIB or Bank of Ireland and states that one is going to do some of the things I have just outlined, one would be laughed at. That is just to put it in perspective. That is why we need public banking and community banking. That is why the German economy is the fourth largest in the world. We need to stop talking and get moving.