James Reilly (Dublin North, Fine Gael)

I will finish quickly.

With interest rates at an historic low and bound to rise, there is a further risk of possibly another €10 billion. I will leave it to Deputy Barrett to explain to the House what the national recovery bank would do, how it would operate and how it would ensure that money flows to businesses, because such explanation will require some time and my time is finished. Fine Gael will not support NAMA. We will try as best we can to protect the taxpayer by putting in place various amendments to this Bill on Committee Stage. Moody's now says that on top of the €4 billion in Anglo Irish Bank and the €7 billion given to AIB and Bank of Ireland, even with NAMA, we will need another €8.5 billion. The Irish taxpayer is being plundered at a time when we cannot even vaccinate our children against cervical cancer.

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