Donie Cassidy (Fianna Fail)

Senators Ross, Harris and Alex White called for a debate on the financial markets challenge facing the world, especially the West. I appreciate the father of the House bringing this to the attention of Senators. This is a serious challenge which will last for some time. Many individuals in Ireland who have created much employment, and particularly those in the financial services and pension funds area, will feel the pinch from the events being discussed.

The major downturn in the stock exchange of more than 40% does not happen overnight and is unprecedented.