Timmy Dooley (Clare, Fianna Fail)

Notwithstanding their abhorrence of the notion of continued capitalisation of banks, the presentation of the strategic investment bank in the programme for Government seems to have satisfied their concerns about bailing out the banks and not burning bondholders. However, that is for another discussion. We all know the importance of getting our banks functioning. One of the key things the Minister for Finance stressed yesterday was the continued necessity to fix the banks.

I compliment the Government on its continued approach to fixing the banks, along the lines set out by the previous Government. The fundamentals of where the economy is now and where it was before the election have not changed, other than that the former Opposition parties are now in power and must face reality. Perhaps that may have tempered, to some extent, what the Government could have done yesterday.

I suppose it would be asking too much for the Government parties to progress their agenda of openness and transparency, which the Taoiseach regularly tells us about, and tell the public they hoodwinked them a little in the run-in to the election, that the promises they made are no longer achievable, that they knew this at the time and that they are sorry and will proceed with resolving matters in line with the fundamentals that were facing them.

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