Gerry Adams (Louth, Sinn Fein) | Oireachtas source

I am surprised and disappointed that the Taoiseach has had not had the time to read the recommendations of the Central Bank in this regard. He says he is unhappy. That has been a consistent theme. He said it was unacceptable and not fair. However, he is not a commentator or spectator. Hand-wringing by him or the Minister for Finance, Deputy Michael Noonan, has not worked. Polite conversation has also not worked. As the Minister might put it, some of the bank chief executive officers are allergic to fairness.

The Taoiseach needs to take firm and decisive action. He knows what the problem is. The State owns most of the banks. Accordingly, what is required is necessary insolvency legislation to support struggling home owners and provide legal protection for the family home. Citizens have been waiting for some time for the Government to introduce some proposals to deal with this crisis. The stress and the anxiety visited on these families are very real. Compare this with the Taoiseach’s willingness to have all-night sittings and develop, under a Labour Party Minister, unprecedented new legislation which will allow the Government to pickpocket people’s pensions, welfare benefits and salaries to pay its water taxes. On the one hand, there is no problem with it bringing forward all of these measures when it comes to ordinary folks. However, when it comes to the banks, the Taoiseach waffles, engages in rhetoric and does not act.

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