Martin Mansergh (Tipperary South, Fianna Fail)

However, the economy cannot function without banks. We needed to nationalise one and support others. I refer to an article in Der Spiegel which states: "Sometimes, unfortunately, it is the case that one must temporarily satisfy private interests to avert far greater damage to the common good". One would like to know what the alternative is or was. How would allowing our banking system to collapse help in any way the interests of people? It would cause chaos.

Social partnership has been a major achievement of the past 21 years. It has been vital to the success of the economy. It is not perfect but it has helped in particular to address many crises that have arisen in that 21-year period. I welcome the fact that a common analysis of what needs to be done in broad terms was accepted, even if not the detail of the conclusions. Last night at his press conference, the Taoiseach was very insistent that his door would continue to be open to the social partners but ultimately the Government has the responsibility to decide.

Unlike many commentators, in particular the Fine Gael Party opposite, I do not see consultations with the social partners as detracting from parliamentary democracy. It is terribly reductionist just to reduce democracy to elected chambers national and local. My definition of a democracy would be the widest possible participation——

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