John Gerard Hanafin (Fianna Fail)

I ask the Leader to arrange a debate on the bank sector. I refer specifically the €54 billion injection that is to be invested in the banks as part of the NAMA proposal. At this time, we should be introducing regulations to govern how much money can be loaned against private property. We should limit the percentage of total bank lending that can be made available for commercial purposes. This part of our island nation has a population of 4.25 million, by comparison with a global population of 6 billion. If we are to renew the real prosperity we enjoyed up to 2002, our future lies with export-led growth. I suggest that we should limit the amount of property lending the banks can engage in. There should be no off-balance sheet lending. We should specify that the banks have to ensure that a certain proportion of their lending is used for export-led growth, rather than for speculative purposes.