I support the Government's amendment to the motion before the House. Over the past 18 months, there has been much debate in the House on the stability of our economy and banking. It is with satisfaction that I discuss the matter again today as our economy is stabilising and our banking system is also showing signs of doing so. There have been many ups and downs during the past year or two and on many occasions we faced a crisis. Each time, the Government stepped up to the mark and provided the leadership required to inject stability into the economy. It is necessary to state that we provided the leadership to do so.

The ordinary people have made many sacrifices to ensure we get back on our feet. There has been much discussion in our recent past about our resilience as a nation and the concept of the Irish meitheal. As a nation, our meitheal has been thoroughly tested in recent times. It is against these tests that we show our true ability. It is only when we work together that we can show optimum ability as a nation and it is with that mindset that we must move forward.

The banking system has let us down. People did wrong and the system failed us. There is nobody in the country who does not want to see those responsible facing justice. There is no justification for debate on that issue. However, how it is investigated is certainly a matter of opinion and of those there are many. Unfortunately, in recent months there has been much fanfare on the Opposition benches about how we will bring the country to economic recovery.

I firmly believe in efficient Opposition and constructive criticism. It is time the Labour Party got real about what the country faces and offers real alternatives or gets behind the leadership being provided by the Government. The Government is responsible for the bank guarantee scheme against much criticism from the Labour Party. Other countries copied our technique as they appreciated the advantages of such a scheme. The Government was responsible for nationalising Anglo Irish Bank, not in an effort to save bankers but in an effort to save the bank itself and, more importantly, its depositors and shareholders. These are real people whose interests we must protect. I must also point out that it was under this Government that the Garda inquiry into the dealings in Anglo Irish Bank came about. The recapitalisation of Allied Irish Bank and Bank of Ireland followed. Again this was to bail out depositors and those seeking credit and not the bankers, as has been claimed by some. We are not in the business of bailing out bankers; we want to get the country back on its feet and that is our common purpose.

Clearly, the aim of the Labour Party is to destroy Ireland's banking reputation and only then it may have a chance of electoral success and a return to Government. Only a fool could not see that the Labour Party's position throughout the banking crisis has been one of political point scoring with a view to enhancing its electoral success but with no regard to the current difficulties of depositors and banks. It does not have an ounce of consideration for the recovery of the economy. The Government was responsible for the establishment of NAMA and we have been heavily criticised for that. However, I firmly believe it was the only show on the road. I look forward to credit being freed up by the banks in the near future when they are restructured.

I could spend all my speaking time discussing the various suggestions made by the Opposition for stabilising our economy. However, I am not interested in rehearsing what has already been debated in depth in the House. Suffice it to say the Labour Party has been caught up in the business of opposing anything proposed by the Government. However, time will prove that the correct measures have been taken and the roots of stability are already showing.

We are too familiar with inquiries and tribunals and their benefits and lack thereof. It is vital that an inquiry of sorts is launched into the failures of our banking system. However, we must be acutely aware of issues such as time and cost. How we go about this is the crux of the debate before us. The proposal by the Minister for Finance, Deputy Lenihan, is sensible and measured. The Labour Party spokesperson on finance is more keen on trial by the Labour Party and letting the banks fix themselves, which has resulted in the position of the Labour Party which I already outlined. Let us not forget that the banks need help to recover as much as we need inquiries. It is our job as legislators and Government to provide real solutions and that is what we have been doing in the recent past. We will continue to do so even though it may not please the Labour Party or be in its political or electoral interests.

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