Donie Cassidy (Fianna Fail)

Senators Fitzgerald, O'Toole, Alex White, McFadden, Coghlan — the deputy leader of Fine Gael in the House, Norris, Hanafin, Regan, Donohoe and Ross expressed their concerns and gave the House the benefit of their experience with regard to the proposals for dealing with the banking situation. The guarantee that was given by both Houses last week is not free; the State will charge for it. We will have a better knowledge of the position when the regulations are brought before the House later this week. I thank the leaders of the groups in the House for their support. I will inform Members on the Order of Business tomorrow when it is proposed to put the regulations before the House, and I will allocate a full amount of time for Members to express their views on them.

Senator Fitzgerald also proposed an amendment to the Order of Business to provide for a debate on employment and competitiveness. Senator Hanafin and other colleagues suggested that FÁS and the economy also be discussed in that debate. The House will be aware that the budget is to be introduced next week. On Wednesday night following the Budget Statement and during Fianna Fáil Private Members' business, I intend to afford Members the opportunity to express their views on the economy, competitiveness and all matters related to employment, as Senator Fitzgerald mentioned today. I will propose to extend the time for Private Members' business by an hour to provide for a three-hour debate on the economy, and Members will have the benefit of knowing the content of the budget from the previous day.

This is a difficult time for ordering business in the House. We have an obligation to ensure legislation is processed. Before the end of this week the regulations must be agreed and passed by both Houses. I thank the party leaders in the House, the Whips, the Cathaoirleach, the clerks, the staff and all my colleagues for their understanding and support in this regard. It makes my job a great deal easier.

Senator O'Toole and Senator Alex White highlighted their concerns about No. 2 and the establishment of the sub-committee. The business has been ordered and is proceeding, but I will convey the Senators' concerns to the Minister after the Order of Business.

Senator Alex White and Senator Kelly expressed their concerns about the situation in Aer Lingus, employment, employment rights and, in particular, the matters that have been agreed in the national agreement. It is certainly a challenge for the Government and, indeed, everyone. It has crossed my mind on numerous occasions over the past week how the challenges we face are changing and are doing so by the day. Formerly, there was an interval of a week or month between challenges but now they are arising by the day. Ireland is not alone in confronting problems in the banking industry; it is a worldwide challenge. Other countries, especially our European colleagues, must face up to what we have had to do and respond in the same way. It is a liquidity problem and has nothing to do with stocks and shares. Our European colleagues must confront the challenges. Some of them have done so since the last sitting of the House.

Senator Keaveney voiced her concerns about Malin and Valentia. I compliment Senator O'Toole on his stance during "The Week in Politics" programme on this matter. Senator Mark Daly has also been a champion on the matter in the House, as have all colleagues from the Kingdom and Donegal.