Séamus Kirk (Louth, Fianna Fail)

It is also clear that the proposal has credibility in the financial markets. On 30 August last the Financial Times reported, "Evidence that Ireland is addressing the crisis has been well received in financial markets. Irish bank shares have rallied and the risk premium on Ireland's sovereign debt has reduced." Since its announcement, the cost of borrowing by the State has already fallen. It is now time to implement our plan and to get banks up and running and lending to Irish businesses and households.

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