Enda Kenny (Mayo, Fine Gael)

This refers to the Taoiseach's comment that the Government will take action in this area only as a matter of last resort. The Taoiseach has read out a number of details in this regard.

If the Government is to introduce a recapitalisation programme, perhaps the Taoiseach will outline what principles will underpin that programme in terms of the availability of competition to the process. We do not want a return to a duopoly. Will the Government ensure the system is transparent and not subject to pressure from large financial entities and that concern is expressed about the requirement for Irish-owned financial institutions, which is important in an Irish context?

In introducing a recapitalisation programme it will be important to ensure that moneys given to Irish banks does not sit in their vaults but is used for the purpose intended, namely, to enable credit lines to flow for Irish business and, in particular, to enable Irish small businesses to survive and to maintain and protect jobs. I am sure the Taoiseach does not want a situation whereby capital extended to banks sits in vaults and is used only for the purpose of supporting delinquent developers in whatever form. Perhaps the Taoiseach will comment on that matter. I make these points in a constructive fashion because, no more than any other public representative, I am acutely aware of the real concern, anxiety and fear of people who have jobs in regard to their being able to continue in employment.

It is inevitable a recapitalisation programme will be introduced. Perhaps the Taoiseach will state, in the interests of providing hope and confidence to people in the small business sector, how and in what format the Government intends to act.

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