Micheál Martin (Cork South Central, Fianna Fail)

As I stated, these are still early days and I am not convinced by the Deputy's argument on what is the most effective international institution to address the issue. Without doubt, the existing institutions require fundamental reform as they are outdated in terms of membership, composition and so forth. The United Nations also requires significant reform to deal with modern global realities. I hope the G20 summit commencing on 15 November will mark the beginning of a substantive reform of global financial systems. The United Nations Secretary General will attend the meeting.

Human behaviour governs much of what is taking place. While I may be facing into the prevailing wind on this issue, in my view we must analyse the problem, even if we believe we know what are all the issues.

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