Éamon Ó Cuív (Galway West, Fianna Fail)

One of the problems we now face is that people do not want constructive debate. As I stated, we are where we are.

The second decision, one which in my opinion was a simple and correct one, was the nationalisation of Anglo Irish Bank. If we had not done so the consequences for every man, woman and child in this country would have been unthinkable. I have listened with interest to the Fine Gael proposal in relation to the good bank-bad bank. I would like to have time to discuss that issue with those in Fine Gael who are proposing it. What I do not understand in terms of that proposal is what would secure the money in the bad bank once created. Will the people in the banks who created the problem continue to manage the assets and, if not, who will do so? I do not think Fine Gael has fully teased out the logic of its bad bank proposal.

In regard to the Labour Party, I appeared on a television programme with Deputy Quinn, whom I have known for a long time and for whom I have the highest regard. I am aware that NAMA is not official Labour Party policy but he fully supported the concept. He believed, however, that NAMA would have to ensure it did not pay above value for the assets, with which I agree, and that the people who make the decisions should be completely independent of outside interference, which is crucial.

I would love to engage in constructive debates on these issues. I have never been a politician who spends time scoring small political points because I try to be positive and constructive in creating employment.

Reference was made to tourism, which I agree has huge potential. The new rural development programme will receive €425 million, compared to €150 million in the past. The challenge is not getting the money but spending it in order to get the highest multiplier effect.

Notice taken that 20 Members were not present; House counted and 20 Members being present.

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