Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

9 o’clock

I thank my colleague, Deputy Michael McGrath, for tabling the motion tonight and for relentlessly pursuing the issue, not for a number of weeks or months but for a number of years. In fairness, Deputy Pearse Doherty on the Sinn Féin benches also did so. The reason we are here tonight, however, is that Deputy McGuinness and the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach facilitated those who had their money, mental well-being and lives robbed by the banks for the past number of years. Tonight I thank them for their bravery in coming forward with their stories. It is because of their bravery that the Government has belatedly come to deal with the issue.

The Minister's statement tonight is despicable. It is so weak and lacks courage and conviction. He spoke about supporting the Central Bank, the regulator, which itself said that it hoped it would bring moral pressure on the banks. The banks do not understand morality. This Government over the past number of years has facilitated the bank every inch of the way. The former Minister for Finance, Deputy Noonan, invited the vulture funds to come in and buy property at reduced rates. The insolvency service is framed to suit the banks. The Government is blocking the legislation that would ensure we had fair variable interest rates. The Government facilitated the banks. AIB will make €1.2 billion profit but will not pay any corporation tax for 20 years due to the legislation brought in by the Government.

The Minister says to name and shame. We know the banks and the culprits involved. Unless there is accountability and real consequences for those who committed white collar crime, which is what it is, justice will not be served.

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