Martin Cullen (Waterford, Fianna Fail)

The reality of the investment that we have put into Anglo Irish Bank, for instance, is that if we did not do so the catastrophic bill that would fall upon the taxpayer of this country would be enormous in comparison to anything that we have invested in the banking system.

If the Deputies opposite do not want to take my word for it, I take great comfort in and great confidence from what has been stated by the European Central Bank, the German Finance Minister and the French Finance Minister about the Irish Government's approach. It is time the Opposition stopped undermining our economic approach to the financial system in this country. Sending a continuously negative international message will do nothing to help us to recover economically. If Opposition Members have something to say, they should set out a policy that offers a coherent approach capable of delivering a sustainable and stable banking system so as that we can grow our way out of our economic difficulties. However, they have not done so. I would go so far as to say that some of the remarks made by Deputy Kenny and the leader of the Labour Party have almost been treasonous-----

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