Eamon Gilmore (Dún Laoghaire, Labour)

I do not accept the banks operating in this country can hide behind the international credit squeeze any more than the Taoiseach can hide behind the global economic environment with respect to the domestic policies that are applied here. We know there is an international backdrop both to what the banks do and what the Taoiseach does in regard to the economy. However, the banks, particularly the four major banking groups, made most of their profits in this country in good times. I believe they have a responsibility now to help to get the economy through the more difficult times it is in.

They will clearly not do this voluntarily. Looking at what they are doing and how they dealing with individual businesses and customers, it does not appear as though they are willing to do it. This is why I put my suggestion the Taoiseach, and as he did not respond to it, I must put it again. Will he invite the banks to have a discussion with him, as Head of Government, so that he can talk with them and encourage them to take a wider, longer-term view of the Irish economy and encourage them to assist in whatever strategy he has, although he has not yet told us about it, to move the economy forward from where it is at present and on to better times?

My specific question is this. Will the Taoiseach ask the banks in to have a wider discussion with him about where the economy is going, their lending practices and to encourage them not to squeeze the life out of businesses at this time? At present, what is happening is that the banks in their engagement with individual businesses are throttling them, and in their engagement with new businesses in particular are telling them to clear off and that they will not make money available to them. Unless people who want to start new businesses can access start-up capital, they will not start up these businesses and therefore will not be able to contribute to moving the economy forward. Unless existing businesses get some kind of relief and understanding from the banking organisations, they will find themselves in continuing trouble.

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