Donie Cassidy (Fianna Fail)

I join with Senator Alex White in mentioning the sad passing of Conor Cruise O'Brien. The former Deputy and Member was a very strong-minded man and made an immense contribution in his time. He was a central figure in Irish society for much of the last 75 years. I pass on our condolences to his wife Máire and his family.

Senators Fitzgerald, O'Toole, Alex White, Boyle, Coghlan, Hanafin, Norris, Walsh, Healy Eames, Ross, Buttimer and McFadden expressed their shock and horror on matters pertaining to the banking sector, its governance and regulation, the role of the Financial Regulator, and the news that has been divulged in the past 24 hours. I have no difficulty in having time left aside for a special debate. I will propose to the House today to adjourn sine die, but I will review the situation on a day-to-day basis if required. As we know, the regulator has an extremely difficult job. The task on hand now, especially in view of the possibility that taxpayers' money is involved, is extremely onerous. I have no difficulty in convening the House at short notice to support the strengthening of regulation, as the Minister may request us to do from time to time. I note the views of the Senators, particularly those who have experience in the area of financial services.

The Minister for Finance is waiting to come into the House so I do not intend to take up any more time on the Order of Business. I have noted the various points made about the ESRI. The Taoiseach and Ministers launched a framework document yesterday inviting everyone to participate. Those of us who were heavily involved for many years in the area of enterprise, trade and employment know that the smart economy framework proposal encompasses high value research-intensive multinational activity. We know the importance of the contributions that Google and Microsoft have made to the world. All these new initiatives may inspire new Irish innovators in creating high value jobs. That is the direction in which we need to go. I compliment everyone concerned — the Ministers and the Taoiseach — on developing a plan for fighting back when the American economy starts to recover. That is sensible and wise. With regard to the request made by Senator Norris, I am endeavouring to obtain the responses he asked for, and I will relay them to the Senator directly from the Minister's office as soon as I receive them.

As this is the final day, I wish everybody a happy Christmas, including the Cathaoirleach, his staff, the Leas-Chathaoirleach, the very efficient Clerk of the House, Deirdre Lane, her Clerk Assistant, Jody Blake, and all the staff of the Houses who have assisted us during the year. I thank the Captain of the Guard, Comdt. John Flaherty, who has been helpful to us every sitting day, his staff, the Superintendent, the ushers, and all the ladies who help keep the House to the standard it is. I also thank the staff of "Oireachtas Report" for all the exposure they give our proceedings, and we must not forget Jimmy Walsh in The Irish Times for his accounts of the proceedings in the House. I thank the leaders of the groups and the Whips for their great work and assistance throughout the session, the Deputy Leader for the assistance he has given me, all the Members of the House and their families, and everyone who helps us from time to time. I wish all these people a happy and holy Christmas and look forward to working with them in 2009.