Enda Kenny (Mayo, Fine Gael)

It is not agreed. We have just come from the Mansion House commemorating the first sitting of the Dáil 90 years ago tomorrow. The point I tried to make there was that the fundamental aspect of that First Dáil was accountability in this Chamber — full accountability by the Government to the Parliament and through the Parliament to the people in respect of all dealings of the Government on behalf of the people. To suggest that this House can deal with a Bill of 38 pages produced at 9 o'clock this morning with the magnitude that it contains in a number of hours is simply not credible given what we have just said and from where we have just come. I propose that the Dáil rise not later than midnight tonight to allow adequate time to deal with the thousand questions that need to be asked arising from the Government's position on the matter.

The country is now in a crisis of confidence, which partly arises from the international situation. However, principally it is a crisis of confidence in the Government led by the Taoiseach, which has no clarity, coherence or agenda in terms of the way out of the problems we now face. The situation of the banks today affects every single person and business on this island and those who have connections beyond it. The many thousands of rock solid people, who put their money into shares in banks, and whose shares and futures have now been decimated, do not speak but are shocked and appalled by the lack of leadership from the Government in dealing with the issue.

Last Wednesday the Fine Gael Party for its part called for the State to take over one bank — Anglo Irish Bank. It also suggested that the proposed €1.5 billion recapitalisation should not proceed and instead that the bank should be wound down in an orderly fashion over seven years. When the Taoiseach spoke in Tokyo three or four hours before the decision was made, he said that recapitalisation was proceeding. Subsequently following telephone calls or whatever, the Government decided to change direction and announced its intention to nationalise Anglo Irish Bank.

For his part the Minister for Finance has said that there were no irresponsible lending practices in Irish banks. We have not seen copies of the PricewaterhouseCoopers report into these banks which is fundamental to the business we need to do here. I wrote to the Taoiseach concerning a number of issues about Anglo Irish Bank and the Government's plan for it to continue as a going concern. I asked about a new management board, a vetting of that board, the new commercial expertise that would be put in there and the issues surrounding the extension or otherwise of the guarantee. The Taoiseach replied in part to that letter. He also sent me a letter on his own behalf personally stating that he was very concerned at statements being made that would have a detrimental effect on the banking and fiscal situation in the country. I can assure the Taoiseach that this party will be responsible and will not be gagged by any overtures from Government or any letters from him. If many Ministers on the other side of the House had watched their mouths in the past six months we might not be in the position we are in today.

Given that Standard and Poor's has readjusted its rating of Spain and is likely to do the same in respect of Ireland, this is a crisis of confidence. Our banks are now practically valueless without the Government. We know the importance of the banking sector to our economy in allowing businesses to continue with credit lines. It is very important for people to be responsible in their attitude to the banking system. In saying that, it is critical that all Deputies in this House receive answers from the Minister for Finance to the questions posed during the debate. What is proposed by Government is completely insufficient to deal with this. I suggest to the Taoiseach that he amend the proposal and allow the House to sit until midnight so that Members can have a decent opportunity to ask questions and get answers. We want accountability here.

We have had all the allegations about the Fianna Fáil tent in Galway, about developers' banks, and people saying they do not owe money to Anglo Irish Bank any more but to the State——

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