Enda Kenny (Mayo, Fine Gael)

It is not agreed. Deputy O'Donnell has pointed out on a number of occasions the importance of the ECB 11 page opinion in respect of the legislation being proposed by the Minister for Finance. There were 15 separate issues outlined in that opinion in respect of the independence of the Central Bank and the Governor. One of the main criticisms was the weakness in Ireland's regulatory system whereby it was open to political and financial pressure from interest groups. It is not right that the Bill should be guillotined in this fashion. Both the Fine Gael Party and the Labour Party have warned for the last four or five weeks that this is the usual style of the Government towards the end of a session, whereby it guillotines practically every Bill that comes through the House. This is one Bill that should not be guillotined. It is absolutely critical, in view of the gross incompetence and mismanagement of regulatory affairs by the Government, that this Bill be debated thoroughly and that the serious opinions expressed in the ECB report be taken into account in this House. In view of the gross incompetence, mismanagement and oversight of regulatory affairs by the Government, it is absolutely critical that this Bill be debated thoroughly and completely and that the serious opinions expressed in the ECB 11-page report be taken into account in this House.

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