Eugene Regan (Fine Gael)

If there are discussions about the delay, this point must be borne in mind. When the legislation comes before the House, we will deal with it expeditiously.

With regard to the issue of NAMA and bank shares, is the Minister telling us everything or is he holding back? The passing of the legislation is an issue, but there is also the issue of EU approval. I ask the Leader for clarification on whether the European Commission has expressly approved the NAMA project as set out in the legislation. If not, will there be a delay in its approval of the legislation? How far has the Minister advanced the approval process?

My last point is with regard to the day of protest. It is perfectly permissible for trade unions and workers to agitate, defend their wages and make their cases on the public finances. However, the options the unions are coming up with must be credible. There is an onus not only on the Opposition parties but also on the unions to come up with credible alternatives. The suggested alternative is to tax us out of existence and kill the economy. In addition, a reduction in numbers in the public service, as distinct from dealing with pay and conditions, is not a realistic alternative.