Paul Coghlan (Fine Gael)

I, too, very much welcome the talks the Government has initiated involving the social partners and hope they will lead to early progress. Will the Leader indicate when the details of the package associated with the recapitalisation scheme proposed for the banks, specifically the €3.5 billion each for AIB and Bank of Ireland, will be made known? I accept there were some difficulties in regard to salaries and bonuses, and, obviously, there are other matters to be dealt with. I would like the Leader to comment on that.

As Senator Fitzgerald pointed out, the taxpayers are actively assisting the banks in the interest of the economy and in the national interest. As a result of the guarantee scheme and the measures relating to recapitalisation, restructuring seems to have been forgotten about, even though it was mentioned many months ago by the Minister for Finance. Apart from legal power, the Government has significant moral authority. It has two public interest directors appointed to each of the financial institutions concerned. I hope the Government is not long-fingering the situation in regard to Irish Nationwide because, as I understand it, the Minister for Finance has asked the two public interest directors there to conduct an inquiry, which could be open ended. We can easily and speedily empower the Director of Corporate Enforcement to deal with financial institutions not incorporated under the Companies Act. I would like to hear the Leader's view on this matter because it is of the utmost importance. All this is damaging to confidence and without confidence we will not be able to go forward. Will the Leader update us on the Government's position?