John McGuinness (Carlow-Kilkenny, Fianna Fail)

It diminishes confidence in Irish business and business throughout the world that that would happen. It is up to governments to address the problem as best they can. Ireland, with a population of 4 million, 2 million of whom are working, needs to do things in terms of business, which I respect. People look to the Government for leadership. Leadership was shown by what the Minister for Finance, Deputy Brian Lenihan, did in July. On the basis of the figures available then he introduced certain cutbacks, redefined policy and reprioritised projects.

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