Eamon Gilmore (Dún Laoghaire, Labour)

All of that has contributed to a situation where the credibility of the Government has been shot and where confidence in the Government both at home and abroad is at an all-time low. I drew attention to the comments made by Daniel Gros of the Centre for European Policy Studies this morning where he set out clearly that the banking guarantee has led to the economic downfall of the country and that the consequence of that guarantee is that the fortunes of the banks and of the State are now perceived to be as one by investors and others outside of the country. That is what has us where we are.

The Taoiseach indicated that he wants market conditions to stabilise and that anything that can be done should be done, or that anything that he can do, he will do to make that happen. There is one thing he can do to help make that happen. That is for his Government to resign. That is necessary for a number of reasons. First, because any Government with any sense of self-respect that would have got the country into the mess that he and his Government have got it would do the decent thing and go. Second, even if that were not a consideration, what is now required is the change and the renewal of confidence that comes with giving the people the opportunity to have their say, to elect a new Government which will have a mandate for four to five years and that will provide a fresh start for the country.

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