Geraldine Feeney (Fianna Fail)

Irish banks are facing loan losses, as are all the banks in the Western world tonight. They are, however, well capitalised and will be able to cope with these losses. The only thing they cannot control is fear in international credit markets. This, along with the credit crisis, will be solved in time and we will all applaud that. The world economy has not collapsed and the credit markets will return to normality. This brave decision by our Government will allow the banks to ride out the storm.

Criticism has been thrown at the banks, some of it partly justified, about the earnings of their top people.