Margaret Conlon (Cavan-Monaghan, Fianna Fail)

Gabhaim buíochas as ucht an deis labhairt anocht. Dúirt mé cheana féin sa Teach go raibh an tír seo i gcruachás. Tá sin fíor fós. Is eol dúinn uilig go bhfuil cúrsaí go dona, ach caithfimid obair le chéile chun réiteach a fháil. Caithfimid admháil gur ar mhaithe le leas na tíre a tógadh an cinneadh an Banc Anglo Irish a náisiúnú. Tá fadhbanna lenár bancanna, ach tá próiseas ar siúl fé láthair agus ní féidir cúiseamh a dhéanamh ar dhuine ar bith. Caithfear gach rud is féidir a dhéanamh chun ainm an tír seo a ardú arís agus níl an dara rogha ag an Aire. Tá fiosrúcháin ar siúl chun a fháil amach céard a tharla agus chruthaigh an tAire nach bhfuil na bainc saor ón dlí. Cuirfear an dlí orthu más gá. Inné, ní raibh ansin ach an chéad céim.

I thank the Leas-Cheann Comhairle for the opportunity to speak on this motion this evening. Reports of what happened in Irish banks, especially in Anglo Irish Bank turn one's stomach. The behaviour of these people and their contempt for our national banking system, their shareholders and, above all, the people raise serious questions. Where is the nation moving? There is an obsession with wealth and money, with cultivating an image, with building a vacuous persona based on loans, gambles and hedged funds which have proved to be vulnerable, weak and debilitating foundations. When people of influence in Irish and international banks with millions of euro start cutting corners and taking short cuts and a recession hits, there is a serious and grave fall out.

We are in a global recession. Other countries are in recession. They were not in a property bubble or experiencing malpractice at the top of their banks. We need to start focusing on the problems, their causes and the solutions. The Minister for Finance has one of the most difficult jobs in the country. People want us to work together to find real solutions, not fluffy, populist headline grabbers such as "Nail the Fat Cats". We cannot have kangaroo courts. We must have due process and allow for investigations to be conducted and any sanctions which law enforcers deem necessary must be enforced. No one is above the law.

The Opposition has complained, argued for leadership, for change and reform, and that is its job. There is a serious lack of confidence among purchasers and consumers which leads to fear of spending money. It may lead to a fear among investors but money is available. Thankfully, many people are still working. A new phenomenon in this economic crisis is that America, the United Kingdom and most of Europe are in the same boat.

There are businesses crying out for funding. We have helped the banks and now they must help businesses survive. We need to take stock of where we are, what we have done well, and examine the errors so that we can get the most efficient and effective return on all future investments. Our banks have shaken the confidence of people here and overseas in our banking system and our economy.

Naming the so-called "golden circle" and sacking anyone with power in the banks are knee-jerk populist wishes. Will that get us where we want to go? We need solutions. When we look back in 15 or 20 years' time, will we regret denying due process and natural justice to satisfy a media frenzy? We want true justice and would be failing as legislators if we were to jump to the tune called on any given day. People who deserve it must be sacked, fined or jailed. We need to build confidence in our banking system and send out a strong message that Ireland is open for business.

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