Paschal Donohoe (Dublin Central, Fine Gael)

The third notable feature of the contribution concerns the fact, which I acknowledge, that Sinn Féin has made an extraordinarily positive contribution to the State in terms of what it has done in the North and the peace it has played such a powerful role in bringing about. It did that through years of patient, positive, incremental negotiation. However, it is now looking at a Government that is trying to undo three years of the most disastrous banking policy in modern European if not global history, yet Deputy McDonald is disappointed it cannot be done in three and a half weeks, forgetting all of the positive lessons her own party demonstrates. That is the challenge.

To return to my second theme, the question is what would be done differently, which is an issue of deep concern to me and members of the Government. I thought it noteworthy that Deputy McDonald described bondholders as "leeches". Actually, it is bondholders - private investors who buy Government debt - who provide the money that keeps our schools and hospitals open, whether they be in investment funds or pension trusts. A recent study from University College, Cork stated that half of those funds were held by Irish citizens. Are we calling those people leeches?

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