Brian Cowen (Laois-Offaly, Fianna Fail)

Tomorrow, the National Treasury Management Agency will hold a press conference on this issue. People will be able to get an informed view and proper, technical answers to all types of questions related to this matter. We will take this step by step and in a transparent and open way and we will have our debates.

Deputy Noonan raised this issue in the proper context and I acknowledge what he had to say. Let us have a debate on the issue rather than on side issues. While one cannot ask anyone to avoid the opportunity for political attack, as this debate begins - it will continue in the coming weeks and months - I want to say clearly and openly that the motivation behind this initiative by Government is to protect jobs in this country and protect the ability of businesses, ordinary families and mortgage holders, those who do their business in banks, to secure access to credit to get on with doing business. That is what this is about. Whatever their business is with the banking system, whether it is a family or a commercial or private business, there is no other motivation or issue of concern. There is nothing else.

It will not serve the country or House well if we allow this debate to descend to the level at which debates sometimes take place. While this can be part of the adversarial nature of politics, it should not be the dominant part of it.

See this speech in context