Éamon Ó Cuív (Galway West, Fianna Fail)

I will put a question now, but it is important to correct the record. The Taoiseach spoke about the €100 billion being put into our banks. Would he not agree that what happened had nothing to do with a fiscal deficit in Ireland? In fact, we would have complied during the good years with all the new rules that are being brought in here. What happened is that banks in the centre of Europe, especially German banks, lent recklessly to the periphery. They are afraid they will not get their money back. In an effort to do so, they are more than willing to let the ECB lend to our banks so that our banks can give them back their own money.

Has the Government had discussions about sharing the burden equally? The periphery is lining up with the full cost of the banking policy. Has the Government pursued the issue at the heart of this problem to ensure that what happened cannot happen again? This is more of a banking crisis than a fiscal crisis.

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