Eugene Regan (Fine Gael)

I thank Senators O'Toole and Quinn for supporting my call for a debate on the Schengen Agreement. I raised this matter last week and as the Leader agreed there would be a debate, perhaps he can confirm when the debate on Schengen will take place. The reality is that it involves passport-free passage between member states. One justification for having this restriction and for Ireland not being part of Schengen was that we had a common travel area with the United Kingdom. Since it effectively has ended, it is time to have such a debate and for the House to lead on this issue.

The problem is that this issue forms part of an overall area that is called freedom, security and justice within the European Union and the Government has been most reluctant and recalcitrant in co-operating with the rest of Europe on such issues. This also is reflected in our opt-out from criminal law and police co-operation, which has been introduced in the Lisbon treaty. As one of the biggest selling points of Europe is the need to co-operate in tackling crime, drugs, human trafficking etc., it would be an idea to get rid of this opt-out. According to the former Senator Maurice Hayes, who then chaired the Forum on Europe, this proposal was the biggest selling point of the Lisbon treaty. However, the Government chose to introduce an opt-out. We should get rid of it, which would increase the ability to sell the Lisbon treaty.

Six months after the nationalisation of Anglo Irish Bank, which Fine Gael opposed, a business plan is being drawn up with the Minister for Finance, his officials and the Financial Regulator. After six months that is wonderful. There is a commitment of funding and possible funding required of the Government of up to €7.5 billion. More impairments are expected on loans in the wake of the establishment of the National Asset Management Agency, NAMA, and it has been suggested it would be more expensive to close the bank than to continue on. Members are owed clarification by the Minister for Finance in this House regarding what is going on and on the depth of the contribution and funding to this zombie bank that is required of the Government.