Arthur Morgan (Louth, Sinn Fein)

What is the Government going to do? Will it start pouring the funds in the National Pensions Reserve Fund, NPRF, into the banks? If not, it will need to return to the markets. This is more fibbing on the part of the Government.

It is time for integrity and honesty. Take my word on this - the markets would enjoy a level of openness and honesty from the Government, as would the House. In the past while, the nonsensical figures coming from the Government have been so far out. I do not know whether the Government is getting it wrong, which would constitute incompetence - I am sure none of us on the Opposition benches would be surprised - or deliberately misleading us. One is as bad as the other. We need integrity and openness on all of these matters. In that event, the House could deal with them properly.

If the Government wants a solution to the banking problem, it is important that I share with it the Sinn Féin position. We are still adamant that what is required is a stable, steady and trustworthy State bank. Had one been put in place two years ago instead of the nonsense the Government got up to, we would not be in this deep crisis. We would have economic difficulties, but we would not be in this difficulty. Whatever crazy ideological opposition the Government has to the proposal is beyond me. However, had it put in place a proper and stable State bank, there would not have been nearly as many job losses because our businesses would have been viable. Those SMEs, which are folding because of the lack of credit, would still be operating and we would be generating some type of stimulus in the real economy. However, the Government chose not to do that and opted for the easy option, to bail out these corrupt bankers and prolong the agony the taxpayers of this State and others will have to pay for over decades, and it is now inter-generational. Until the Taoiseach changes his mind, we shall be in serious difficulty.

I hope there is an opportunity to debate the outcome of whatever messing is going on in Europe at these meetings this evening and tomorrow. Unless something positive emerges - I do not expect that it will - then God help the poor unfortunate people of this State who are not among the wealthy elite that is constantly protected by this Government.

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