Michael Noonan (Limerick East, Fine Gael)

My view is simple. The Government should have taken up Deputy Richard Bruton's proposal to do what they have proposed in Germany, which is to divide the existing banks into bad and good banks. It could be worked out that way so that bond-holders, shareholders and those who cannot get credit lines would share the pain. That is my view, which is simple enough. It was explained in detail in Deputy Bruton's paper, so we are not hiding our views. We have been more forthcoming in our views than any previous Opposition and we have set them out before the House. This is a red-letter day. I knew the Taoiseach would not like that comment but as soon as he goes home and knocks on the doors he will find out.

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