John Gormley (Dublin South East, Green Party)

The Government has decided to invest €3.5 billion of taxpayers' money in each of the country's two biggest banks, Allied Irish Banks and Bank of Ireland. I stress the word "invest" because the aim of this measure is to reinforce the banking system, to restore confidence, to boost lending to business and to support and create jobs. The Green Party has worked hard with its Government partners to ensure that taxpayers get value for money and that this action is in the best interests of workers. It has always deplored the reckless and nakedly self-interested behaviour of some bankers, whose short-term greed has led us into a deep world crisis. My party, from its foundation, has stood aloof from the banks. Unlike most other political parties, the Green Party has shunned donations from the banks. On several occasions over recent months, I have said that I have been appalled by the revelations emanating from some banking establishments in Ireland, notably Anglo Irish Bank. I am heartened that the affairs of Anglo Irish Bank are being investigated by the Director of Corporate Enforcement, Mr. Paul Appleby. I am further encouraged by the presence on the board of the bank of two new directors, Mr. Alan Dukes and Mr. Frank Daly, who will look out for citizens' interests at all times.

The Government has been faced with stark choices in the past six months. The Green Party has made a clear decision to put the people of this country first. We are not shirking the challenges we face. It would be easy to play the Opposition's game of sniping from the comfort zone of the sidelines. The Green Party's main focus in government is to fix the huge problems this country now faces by restoring stability to Ireland's banks. At all times, we will continue to push for tougher supervision and real penalties for any bankers found to have engaged in wrong-doing.

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