Seán Ardagh (Dublin South Central, Fianna Fail)

It is not enough. I agree with the Deputy.

I refer to Mr. Eddie Sullivan, the former Secretary General of the Department of Finance, who was Secretary General of the Department of Social and Family Affairs during my time on the Committee of Public Accounts. He did a marvellous job there. In great part, the way in which Deputy Morgan and I receive answers from the Department of Social and Family Affairs, the way its computers are set up and the efficiency and effectiveness of that Department reflect what Mr. Sullivan did while he worked there.

I have great respect for Mr. Sullivan and I expect his report in a few weeks' time will put levels on executive remuneration comparable to what President Obama has done in the United States. We are concerned here not only about Bank of Ireland and Allied Irish Banks but about Anglo Irish Bank, Irish Nationwide Building Society, Educational Building Society and Irish Life& Permanent. All six of those institutions are subject to the guarantee and will be taken into account in the report.

More than anything, from this recapitalisation we want confidence brought back into the life of business. We want to see people getting finance to buy cars, mortgages being given out such that the construction industry can get a lift and employment, which is suffering so much, increasing by a quantum step. Whatever agreement is reached on how the banks deal with business people and consumers, I want to see it take fully into account the idea of increasing employment. In a recent speech, the Taoiseach, Deputy Cowen, said he was concerned about, as he put it, "jobs, jobs, jobs". I want the Minister for Finance to tell the banks that as well as getting a good, strong, stable banking system of international repute from the recapitalisation, we want to get "jobs, jobs, jobs".

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