Noel Treacy (Galway East, Fianna Fail)

There have been sectoral failures over the years. I refer to the collapse in the technology sector a number of years ago which was dealt with. The Government is introducing legislation that will give sustainability and confidence and that protects the resources, savings, investments, deposits and credit lines of our people and our companies. We have a duty to do this and we must support the Minister. There is no point tying the Minister's hands. We must ensure we have the best deal possible so that banks can loosen up resources, increase credit lines, look after the retail and business sectors and provide mortgages for the young couples who want to buy houses. This would also allow senior citizens and those who have reached retirement to transfer their assets to their children and allow them enough resources to purchase apartments for their retirement. It is the duty of the banks to loosen up the cash that is vital for growing this economy and absorbing the intellectual capital of our nation, absorbing the intellectual talents of our people. There is no point tying the Minister's hands in his outstanding efforts to ensure that as a small sovereign nation dependent on a global banking system and on a global economy, we make the right decision at this time.

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