Brian Cowen (Laois-Offaly, Fianna Fail)

The Government has plans in place, the smart economy, some of which Fine Gael took up in its document and which the Government is implementing. The plans for restructuring the banking system are in place, will be pursued and are gaining support internationally and at home. Someone who was involved in the reconstruction of the Swedish banking system spoke to the Oireachtas Joint Committee on Finance and the Public Services yesterday and supported our approach. He did not support the idea of resiling from commitments to bond holders which is the central plank of Fine Gael's supposed proposal on banking.

In the interests of avoiding partisanship this morning and the importance of the issues to be dealt with, the Government is dealing with all matters on a planned basis. Part of that correction must involve reducing expenditure. Fine Gael's policy is more cuts but no cuts, that is Fine Gael's problem.

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