Donie Cassidy (Fianna Fail)

Senators Fitzgerald, O'Toole, Kelly, Ross, McFadden, Leyden, O'Brien, Quinn, Donohoe, Callely and Norris expressed strong views on the latest announcements from banking circles and the allegations regarding the bank culture that has obtained in Ireland for some considerable time. I acknowledge the views of Senator Quinn on the danger that private investment in the banks will not be forthcoming. This is very serious.

I expect legislation to be forthcoming for our consideration on the recapitalisation of the banks. As soon as the information becomes available to me from Government I will liaise with the Cathaoirleach and the leaders of the various groups. I put the House on notice that there may be a sitting or an extension of a sitting day in the very near future. We will discuss and deliberate on the issue at length. I have no difficulty in allocating whatever time is required by Senators to express their views in the House. I refer in particular to those Senators who have expertise in the financial world that predates their becoming Members of the House. They can make their views known on the floor of the House live on television with the Minister present to the benefit of the nation.

It is a serious situation in which we find ourselves. It is no pleasure for the Government to have to put €7 billion into the two main banks at present, but it has to be done so that commerce can continue. The lifeblood of business in Ireland is credit and it is not available to most operations currently. The situation has improved slightly from what it was.

We all know now why there was a delay in the Taoiseach and Government putting together a master plan. We did not know the situation fully until we put directors into the banks. I compliment the former chairman of the Revenue Commissioners and the former Minister for Finance, who are directors at the present time, on their hard work and endeavour in Anglo Irish Bank. Until we put directors into all of the banks we will not know the full extent of the problem. One cannot implement the master plan until one knows at least 80% of the extent of the problem.

The revelations emerged on a weekly basis but now they are coming out on an hourly basis and are shocking. It has been said this morning that those of us who are here for the longest time have never seen anything like what is happening now. It is unprecedented. We need expertise, guidance, help and assistance from all parties, right across the political persuasion in both Houses to meet the challenges that are facing us. At the end of the day it is people and jobs that really matter. Everything must be focused around jobs. It is a serious situation when 6.5% of the working public is paying 50% of our income tax.

The Minister for Education and Science was very welcome to the House yesterday. It was a stimulating debate and exchange of views. Regarding the statement that emerged last night on learning support class size, I will request the Minister to come back to the House. The allocation to schools typically increased or decreased according to pupil enrolments. In the case of classes for mild general learning disability a minimum of nine pupils is required to retain a teaching post.