George Lee (Dublin South, Fine Gael)

-----but he behaved in one sense as if the banks has us over a barrel because it is so important in his view and in the mindset of many of the people who advised him to have the banks back working again because that is how we will achieve prosperity again. Therefore, there is a difference of opinion there. The banks were over a barrel to us and they had the Minister over a barrel. That is a major difference in regard to how we all perceive these matters. We have to fix them.

The final difficulty I wish to raise is that we must deliver economic growth in terms of the commitments that are now entered into. This legislation was a great opportunity to get something of significance from the banking system in terms of an injection into the economy. We do not have any guarantee or anything positive out of this which suggests that we are going to get the best injection out of the banking system. That is a great shame. We have a very significant responsibility and now the Minister has a similar responsibility on his shoulders. I am not saying that he deserves it. It is the responsibility that he took on his shoulders to go down this route without bringing everybody with him.

We must deliver on the economy. We must deliver economic growth. This legislation presented a great opportunity for us to get more out the banking system than I believe we will get. That is a great shame. In view of that it is a dreadful pity that we are at the point where we will guillotine the debate and not consider all the remaining amendments which could significantly add to the potency of this Bill.

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