Paul Coghlan (Fine Gael)

Senator Alex White referred earlier to an article in today's The Irish Times, which is good. However, I sincerely hope the damage to our banking system is not beyond repair. We must have hope. There is no doubt but that the drip feed of allegations and wrongdoing have been damaging to the system. Reference was made to the resignation of the chairman of Irish Nationwide, a man who has done nothing wrong. However, he has cleared the way for the Government to act in regard to that bank, which is one of the six institutions covered by the bank guarantee scheme.

Will the Leader tell us the reason for the Government's delay in introducing the necessary restructuring of the banks, including Irish Life & Permanent? We need to make a clean breast of things and stop dilly dallying. Two public interest directors have been appointed to each of the six institutions covered by the bank guarantee scheme. These people of experience and repute have been in place long enough to determine if there are people in those institutions whose positions are untenable, either at board or executive level. For the sake of the country, these people should take themselves off the stage. The public interest directors——