Martin Mansergh (Tipperary South, Fianna Fail)

Deputy Barrett, in a sense, has answered the point as far it legitimately goes.

In response to Deputy Kenny, leader of Fine Gael, I would like to acknowledge the very constructive role of the Fine Gael Party in this whole debate. All sides of the House have appreciated the acute strategic importance of dealing with this situation correctly and in a way that would prevent very adverse consequences. I note and will pass on the Deputy's points with regard to resources and assistance that might be needed for oversight. It has always been the practice, in so far as I have been able to observe it going back 25 or 30 years and probably a great deal longer, that leaders of the Opposition or spokespersons, as the case may be, are consulted when anything of urgent or critical importance in the national interest must be decided.

To address points made by Deputy Barrett, when credit institutions appeared before, say, the Joint Committee on Finance and the Public Service or other committees, I am certain the statements made about the solidity of the banking system were valid at the time but obviously the pace of global events in the past month, particularly the past week, may have overtaken some of what was said.

In defence of the Central Bank and the Department of Finance, I must say they have both served us very well and I would not accept the point that we have been in any way badly served——

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