Fidelma Healy Eames (Fine Gael)

We had to return twice to Europe to get legal guarantees in regard to the Lisbon treaty. If, as we are being told, NAMA is the only game in town, why do we not have legal guarantees built into it? I am not convinced about NAMA. Perhaps the Minister of State can tell me what is in it for the people. I am concerned for the people. I, too, am experiencing problems; this is my reality too. People entered into loans in good faith based on their ability to pay. Many people, including everyone in this House, has taken wage cuts by way of levies and so on which makes it difficult for them to pay their loans and mortgages. In this regard, one has only to look at the facts on personal indebtedness. Middle income families are in serious and deepening debt. There has been a 110% increase in the past year in those with overdrafts who are seeking debt counselling. The boom sparked the credit frenzy. In 1995, the ratio of household debt to income was 48%. The figure for the debt mountain is 176% of the income of all households, largely because of mortgages.

We are bailing out the banks. Who is going to bail out the citizen whose first duty is not it not to themselves but to the State because of the mess created by Government, in particular Fianna Fáil? I would like an answer to the question of how the Government will help the people.