Ivor Callely (Fianna Fail)

I look forward to Senator Regan learning the full story when he hopefully has an opportunity to participate in such a debate.

I wish to raise another issue. We had a good debate on small and medium-sized enterprises yesterday. The Minister of State provided us with all the positive developments happening in the marketplace. We recognise that there are many positive developments but the challenges globally and other developments have created problems in 2007. We have not enjoyed the level of growth we enjoyed in the 2000-06 period. It is likely that this turbulence will continue into 2008.

In light of the likely sins of one or two individuals involved with some of the major financial institutions, the banking organisations, I understand that new regimes, regulations and processes are being put in place, which may cause further difficulties for people who will require finance to fuel their entrepreneurial spirits and ideas. An important ingredient of small and medium-sized enterprises is the availability of appropriate finances without the burden of unnecessary bureaucracy that may prevent such finances becoming available. I ask the Leader to examine whatever is the most appropriate mechanism to provide assurance in this regard to the banking organisations that may or may not have been stung by the likely or unlikely sins of two solicitors, the outcome of which cases we do not yet know. Given the turbulence being experienced in the economy, it is important to ensure that necessary finances are available to entrepreneurs.