Eamon Ryan (Dublin South, Green Party)

Some countries are very fearful at present concerning the central fundamental issue of how we are to restore our banking system. Very many mistruths have been put about that have increased that fear. There is, for example, the mistruth that there has been no consideration or analysis behind our proposal. Detailed and lengthy analysis has gone into it, not only in the Department of Finance and within the political system but the approach was supported and suggested by the European Central Bank, the European Commission and the National Treasury Management Agency. The latter has real everyday knowledge of what it is like to be out in the bond markets trying to raise money amid what is happening in the international markets concerning Ireland's reputation.

I have had lengthy meetings with individuals in these bodies and elsewhere, teasing through the consequences and details of how this approach would work and what are its downsides and difficulties. These exist because the process is not without risk. However, to portray it as being created without analysis is doing a disservice to the people because it is creating and stoking fear. This will not help but will hinder us in getting out of the difficulty we have. We need to move beyond the politics of stirring up and creating fear-----

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