Billy Kelleher (Cork North Central, Fianna Fail)

It is important to mention this because we have listened to the debate in the House today. We also had a debate yesterday and on previous occasions. We all accept that major challenges exist. We are trying to find solutions to the major problems we confront.

Reference has been made by the Opposition to the banking crisis. I want to reiterate the reality of this situation. While this country had its own internal difficulties in the context of the governance of some banks, this issue started in Wall Street some time ago. It started in the sub-prime market in the United States and spread throughout the world. There was an economic crisis across the entire world. Being quite truthful, to point the finger simplistically and solely at our internal system does not do a service to this debate.

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