Michael Kennedy (Dublin North, Fianna Fail)

Reference was made to the former leader of Fine Gael, Alan Dukes. If Fine Gael had listened to what he had to say yesterday at the Oireachtas Joint Committee on Finance and the Public Service and if it had listened to him on radio this morning, they would have heard him say he fully supports the Government's actions on Anglo Irish Bank and does not believe, as Fine Gael suggests - a suggestion that would not surprise me if it came from the Labour Party - that Anglo Irish Bank should be wound down. That would cost the State at least €60 billion to cover depositors and create a run on our banks. It is ridiculous that Fine Gael uses the good name of Alan Dukes on the one hand, but will not listen to his sound financial judgment as a director of Anglo Irish Bank. I believe Anglo Irish Bank should be given the opportunity to trade out of its difficulties because to wind it down would send the wrong signal to the banking fraternity around the world.

With regard to the action the Government is taking on the banking issue, the European Central Bank has endorsed the Government's plan. Its president, Jean-Claude Trichet, who has visited Ireland on a number of occasions, has repeated ad nauseam that he fully supports the actions of the Government with regard to our banking difficulties. These difficulties are not just common to us, but are a worldwide phenomenon.

I call on Fine Gael to give us its solutions. Can it tell us where we will get €20 billion?

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