Eamon Gilmore (Dún Laoghaire, Labour)

Almost 200,000 people have lost their jobs since Deputy Cowen became Taoiseach. The precise number is 195,598. That is an average of 517 people losing their jobs every day since the Taoiseach's election. Many of them have lost their jobs because the companies and businesses in which they worked did not get credit from the banks. On 25 June 2008, I informed the Taoiseach that I was hearing from businesses across the country that the banks were not giving them credit facilities but instead squeezing the life out of them and putting jobs at risk.

The Taoiseach stated in response, "It is important to point out, however, that, as the Central Bank has confirmed, the Irish banking system is well capitalised and is in a healthy state in terms of its own financial situation." That was on 25 June. He then sent the Dáil on a three month holiday. The Government also went on holiday, only to return in a panic at the end of September to introduce an unconditional guarantee for the banks which did not work.

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