Ann Ormonde (Fianna Fail)

The action of the banks is one area we must keep on the Seanad agenda. It is absolutely appalling that after being bailed out, they are making no effort to help small and medium businesses get the economy off the ground. The moment they were bailed out, some €25 billion in deposits were paid into the banks.

Listening to the radio this morning, I was very disappointed with the Bank of Ireland, and we should have an ongoing debate in the House in this regard. The public are unaware of what is going on. I found it difficult to understand what the head of the Bank of Ireland was saying this morning in his presentation on radio. The public needs to know exactly the attitude of the banks at the moment. It is only six months since they were throwing money around, so to speak. Mortgages for more than 100% were being handed out, and yet when people seek to extend their overdrafts or term loans, they are being given the thumbs down. I do not like the attitude of the banks at the moment, and this House has a duty to let the public know how we feel about this. The banks have done very well out of this country over the years. It is time they helped the economy out now. I am laying it on the line that the banks have a very big responsibility and I would like them to honour that.