Mary Coughlan (Donegal South West, Fianna Fail)

It is appropriate to say that Members facilitated Second Stage late last night. We are all very anxious to bring the legislation to finality today if at all possible. We can discuss the timeframe for that in due course. It is also important to say why we are here. It is to give legislative back-up to a principled decision made by the Government yesterday. It is important to see that and bring it to finality as quickly as possible.

On the specific issues raised, as the Deputy is aware, this is broad enabling legislation. Regarding a fee, as the Minister for Finance indicated last night, that is a matter for discussion with the Central Bank, which will determine what the fee will be. It is important to reiterate that this facilitates banks in the case of an event happening. We are facilitating a guarantee that we hope will never have to be called in. That is the aspiration of all of us in the House.

I appreciate that the Labour Party put questions to me in the context of the amendments set down but it would be more appropriate to discuss them in the context of the debate on Committee Stage of the legislation, where we can tease out these issues and adhere to parliamentary democracy and where the Minister for Finance can answer them to the best of his ability. This is broad enabling legislation to provide a legislative framework to a principled decision made by the Government yesterday.

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