Feargal Quinn (Independent)

Senator Coghlan referred to the strange silence of the pension and investment communities about the most recent affair and the insider trading which took place last year. The House will debate the Electoral (Amendment) Bill 2008 today. I am concerned that we are being strangely silent at the time we should be debating the issue at the forefront of all our minds. If we fail to make the House more relevant, we will deservedly be criticised and confidence in us will decline.

Senator Mullen referred to ethics. The international community had, until today, lost confidence in our efficiency and was asking what type of regulators and banking community were in place in Ireland. Today, however, it is questioning our ethics. We talk about being strangely silent but the investment community backed up insider trading last year and did not utter a word of criticism until we did something about it.

All those who entered politics to help the country must do something. The reputation of this House will be seriously tarnished if we do not debate financial issues and the proposed recapitalisation. We must do so today because failure to discuss these issues will create greater problems.

I do not believe that people in the Netherlands and France voted on the text of the proposed constitution for Europe. They chose instead to give their respective governments a bloody nose because they did not have confidence in them. There is a serious danger that Ireland will be sidelined in Europe or forced to leave the European Union if we vote "No" again. This outcome could emerge, albeit for all the wrong reasons. The House should debate the issue on everybody's mind today.

Yesterday, the Association of Graduate Recruiters in the United Kingdom spoke of encouraging graduates to search for jobs and, where necessary, start at the bottom or do voluntary work. Too many people here are asking undergraduates and graduates to consider emigration arguing that Ireland does not have a future. This country has a strong future but it is in our own hands. I urge those who are studying, those hoping to graduate this year and recent graduates——