Seán Barrett (Dún Laoghaire, Fine Gael)

In the past two days of so-called debate, we heard very few positive or hopeful notes from the Government side. Anyone who listened to the debate would want to go to bed and never get up.

In the context of the Franco-German proposals on further restricting member states, has Ireland made any positive suggestions on making available finance from foreign banks which are not at present trading here? Two of our retail banks are not trading and, as a result, people cannot start or maintain businesses. Has the Minister entered into discussions on ways and means of making it easier for people to borrow money from good banks in other member states?

Why do we depend on independent rating agencies about which we know very little to determine the interest rates we pay on our debt? Has there been any debate at European Council level on introducing a European rating system controlled by an independent body that would be accepted as reasonable and fair by member states? This could facilitate grouped borrowing by member states. If one is big and strong, one can get better terms than a small person. Why not allow the EU's 27 member states to rate Ireland? We may still have to pay higher interest on our borrowings than a country with a higher rating but it would not be as high as 7%. We should pursue these ideas rather than continually dwelling on how governments can be further restricted in dealing with their finances. We must come up with positive proposals that will help people start or maintain businesses.

My final question pertains to the talk about Dáil reform. I served on the Select Committee on Finance and the Public Service for three years, during which time I sat through three Finance Bills. Neither the Minister nor his predecessor accepted a single amendment over that period. Is the Government serious about Dáil reform or is it merely conning the people? We sat for days to debate NAMA but every amendment we proposed was rejected.

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