Mary White (Fianna Fail)

I want to put on the record how embarrassed and sad I am at the exposure the Irish financial system is getting at the moment worldwide. This is a young State of less than 90 years. We were colonised for 800 years and all of us working together have served to raised the standard of living for everyone on the island from that of a colonised Third World country.

I read in the Financial Times at the weekend that the United States has put a levy on the Halliburton corporation of about $170 million because it broke American laws introduced in 1997, forbidding companies from bribing people in other countries when trying to get contracts. The US brought in legislation that year to stop its corporations bribing Third World countries as regards contracts. Halliburton bribed senior public servants in Nigeria to the tune of about $180 million.

What we have learned from this debacle in the last few months is that there are many people in Ireland who would be in jail if we had the equivalent of this American legislation. I find it most disappointing that we have not dealt with that and brought in legislation accordingly. The average man and woman in the street tries to do his or her best every day. When one reads about the shenanigans in Anglo Irish Bank and Irish Life & Permanent, I just ask myself what is happening to our country.