Ivor Callely (Fianna Fail)

My understanding is that the Taoiseach has been invited to participate with Heads of State from Europe and the world, along with industry. It would be remiss of the Taoiseach not to participate, especially given the difficulties this country faces.

Can the Leader find a mechanism to monitor closely the manner in which the banks operate and assist all customers, borrowers and small and medium enterprises? I have some personal experience and I say what I have said in light of the fact a large number of people have brought to my attention that the banks are changing the rules and the manner in which they carry out their business. The Minister of State, Deputy Mansergh, spoke in this House yesterday and indicated that part of the discussion with the banks on recapitalisation concerns how they deal with customers in a reputable and respectful way. My understanding is that the banks are looking for two things. Where there is overexposure in respect of loan to value, they want a capital injection to reduce the loan to value exposure. They are not prepared to accommodate the requirements of businesses, particularly in the current climate.

I therefore call on the Leader and other leaders in the House to discuss these issues and come up with an appropriate mechanism. Perhaps there could be a special focus on the banks to ensure they are meeting their obligations.