Ned O'Keeffe (Cork East, Fianna Fail)

I will speak in support of the Government motion. Since 1998, our economy has been one of the most successful in the West and experienced growth until 2006. However, we are now the meat in the sandwich — the US economy entered a recession due to extensive subprime lending and the failure of its construction industry, and the UK economy has encountered difficulties and its construction industry is in trouble. Difficulties lie ahead for us.

I am critical of the Central Bank in its role as protector of the banking system. Due to the Standards in Public Office Commission, I must declare my position as a shareholder in many major banks. I got into trouble in this respect previously.

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