Eamonn Maloney (Dublin South West, Labour) | Oireachtas source

Some of them are not so good and the institutions had a free run until the collapse. We have made some positive changes with regard to accountability and the control of banks, as people on both sides of the House would admit. We have also dealt with control of the Central Bank, which was a very powerful body in this country. Again, it had free reign but exercised little control. Some of what happened was unbelievable and, as we now know, contributed to the mess in which we found ourselves.

Other Members and I would like certain restrictions to be introduced for banks, which are held to account in other jurisdictions in a greater way than we can see here. This is a learning curve and Deputy Collins last night indicated that in the history of the State, we are fortunate that this sort of calamity has happened only once. I hope, if this Parliament does as it should, it will never happen again. The Members present might remember that when this Dáil was in its early days, the discussion predominantly concerned banks and their future. Not all of us used the word "eviction" but there was a fear in that respect and I am sure it was real for many people. Whatever the shortcomings of the legislation being introduced, there were some cries of the word in the House from a small number of Members, although most people behaved very responsibly. The word "eviction" has a connotation among us as Irish people for very good reasons.

Fortunately, use of that word did not become the norm. I acknowledge that there are sad cases; people are in difficulties with mortgages and we should welcome discussions like this about those who have been left behind, irrespective of from which side of the House the discussion originates.

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