Enda Kenny (Mayo, Fine Gael)

The Government, as part of its programme for Government, will move on to the issues that need to be addressed in respect of governance of the Irish banking sector. Clearly, changes are needed. I am sure Deputy Ross is aware that foreign-owned banks located here will provide competition and certainty within the sector. Deputy Ross may also be aware that many international commentators are now looking with some degree of confidence at the decisions made by the Government in terms of bringing clarity and certainty to the banking sector. That is important. We are no longer proceeding on a path of confusion.

Deputy Ross will be aware that people in this country like to be told the scale of the problem. From this point of view, the people understand the constraints and difficulties of government. Governments must make decisions on to how to proceed rather than just comment. In this regard, the Government has brought clarity and certainty to the banking sector. We must now move on to discussions in regard to the interest rate on the IMF-EU deal and other costs associated with that structure.

It is important to understand that what we are seeking from Europe is not more but less money with greater flexibility to achieve the same target. The Government is concentrating on providing a jobs initiative programme which it will publish in due course. This initiative will provide opportunities and incentives to stimulate our indigenous economy, thus providing that much needed sense of confidence and hope for job creation and allowing employers to recruit labour and getting our country moving. Other countries have moved on; their recession is over. We face an enormous range of difficulties. Courage is needed if we are to move forward in accordance with the programme for Government.

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