Thomas Byrne (Meath East, Fianna Fail)

Deputy Flynn observed that we are all seeking the same objective, but when the Government side of the House proposes a solution we do not hear rational argument. Instead we hear of builder bailout and bank bailout. That does a disservice to the debate on one of the most serious issues the State has faced. While Deputy Gilmore's assertion, based on an article in The Irish Times, that this is the most important debate in the history of the State is a gross exaggeration, this is one of the most important issues faced in the history of the State. Describing the National Asset Management Agency as a builder or banker bailout does a disservice to the country and to the future of the economy. It might elect a few more councillors or even MEPs but it will do no more than that.

A couple of weeks ago, the Labour Party said it had received legal advice that the agency could not be operated without legislation. According to the Sunday newspapers the builders are getting together to sue the Government and to put down NAMA in the same way as the Opposition. The builders and the Opposition seem to be on the same side in this case.

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