Alex White (Labour)

I ask to be allowed to speak for a further 20 seconds to make up for the Minister's interruption. The Minister of State stated that the Bill carries no significant risks. Manifestly, however, risks will arise because we do not have a continuing guarantee to the banks. The decision has been made to extend this guarantee, so it is out of the ordinary. Presumably the Minister weighed the risks and the cost to the taxpayer. There is a great deal of self-congratulation coming from the other side but the plan clearly carries costs and risks. The Minister should come clean on what precisely happened. Does he agree with Senator O'Malley and the Tánaiste when they say the banking system was heading towards collapse? Would he use those words?