Seanad debates

Thursday, 19 February 2009

11:00 am

Photo of Shane RossShane Ross (Independent)

I have. I want to ask the Leader if we could have a debate on a particular aspect of this. That is a question which everybody outside this country is muttering. One can see by the credit rating in the international markets what they think. The answer is we are in danger of defaulting at some stage. It is an issue we will have to face up to because it is the kind of situation we are in.

It is not necessarily helpful to constantly bash the Government, so to speak, on this issue. There are other people involved who have contributed to it. The root problem in financial regulation is the Financial Regulator. I am tired, every time I hear a politician defending what has been going on the banks, of hearing them say: "Do not worry, it is being investigated by the Financial Regulator." They topped Mr. Neary, which is fair enough, but the Financial Regulator——

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