Joan Burton (Dublin West, Labour)

I thank the Ceann Comhairle and I appreciate his new approach. There is a crisis of employment in banking where a number of foreign banks are poised if they could to leave Ireland with consequent serious loss of employment in the banking sector as well as deleveraging and loss of employment in the six guaranteed banks. The Tánaiste is in charge of employment policy in the country. This is potentially a massive loss of employment in addition to what has happened to Halifax. Where are we now placed? In an earlier reply to the leader of the Labour Party, the Tánaiste said that the Department of Finance had been in some kind of detailed discussion about Halifax. Approximately ten days ago the Minister for Finance announced he is to devolve the management of banking and restructuring to the NTMA. He advised the House he was consulting the Attorney General with a view to creating an order in respect of this, which would be placed before the House. I get the impression that the Government is aimless and rudderless regarding the crisis of employment in banking.

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