Thomas Byrne (Meath East, Fianna Fail)

I am glad to have the opportunity to take part in this debate and to participate in this Dáil, whose primary focus is to address the loss of jobs. One way to do so is to restore the country's financial reputation, which I am convinced the Government is trying to do. There has been serious action on investigation. Deputy Michael McGrath and I wrote to the Garda Commissioner a couple of weeks ago to ask him for more resources for the Director of Corporate Enforcement. That has been done. We politicians must now step back from the investigation and let the investigators do their job. They must find the evidence and, if it is sufficient, charge the appropriate people and have them brought to court.

We have a different job. We must keep the money in the country and in the banks. The Minister for Finance has said he is concerned that money has left the banks. That was not helped last week by the flurry of scandal, rumour and speculation started by the Opposition that someone on these benches was involved in the alleged "golden circle". That was a disgraceful episode, devoid of evidence or purpose and it was no help in dealing with the difficult situation for the country and its job market. We legislators must get real and do our job and let the investigators do theirs.

The credit default swaps market has recently become a conversation point. This small group of international speculators who attempt to create a self-fulfilling prophecy in their speculation has replaced the currency speculation of the past from which we suffered. Action must be taken against these people at EU level. While it is probably necessary to have some sort of insurance schemes for them to have such a dramatic effect on our economy and our ability to borrow they must be called into question. It is surely immoral and wrong that someone could profit from that. Let us get on with the job, keep the country moving, get it working and keep the money here by getting the banking system back on track.

See this speech in context