Paul Coghlan (Fine Gael)

Does the Deputy Leader know when the NAMA legislation will come before the Seanad?

I add my voice to the calls by Senators Twomey and O'Toole. We all know that dialogue is the only way out of any dispute and I do not believe these days of protest will serve anybody's interest. However, like colleagues on all sides of the House, I believe people deserve to be listened to. The suggestion by Senator Bradford is wonderful, to the effect that we invite the leaders of the various important groups and segments of society in these difficult times to the Seanad and listen to them. Perhaps this House will be willing to engage with them in a meaningful manner, and at least point the way to partial solutions. The Seanad's work in that regard could be very helpful.

As regards lending and so on, we know the banks fuelled the greed and perhaps they are the primary cause of where we are at. However, unless the Minister for Finance exercises his power to issue directives on lending and the amounts that should be made available to get the economy moving again as regards working capital for the very productive sectors, I do not believe we will make progress. The banks will continue to build their capital bases and recapitalise, pending perhaps rights issues that they might wish to aim for. In that connection it is important the Houses of the Oireachtas progress the NAMA legislation, hopefully with some meaningful Seanad amendments that we can table as speedily as possible.