Seán Connick (Wexford, Fianna Fail)

In common with my colleagues on the Joint Committee on European Scrutiny, I am also delighted to have an opportunity to debate on the floor of the Chamber some of the work the joint committee carries out. This is very important as the committee's members form a small and tight group of people and I compliment its Chairman on his efforts in this regard. I am delighted to have been given the opportunity to speak for a few minutes on the draft legislative package on reforming the European Union's financial supervisory and regulatory framework.

Like other Members, I am highly aware of the current situation and the global and international background to the financial crisis. In much of the ongoing debate on this issue, the Opposition conveniently tends to forget that the international banking crisis caused some of the difficulty. I imagine that were Fianna Fáil in opposition, its Members would do the same. I note that Fianna Fáil was not in operation in the United Kingdom, France, Belgium, Germany, Greece, Spain and the United States of America.

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