Paul Coghlan (Fine Gael)

Despite what doubts we may have had, we all must act in the national interest when NAMA is in place.

We should not go hard on the Irish Banking Federation. We must remember it is merely a trade body, not the regulator. We must get matters right in this regard.

The guidelines the Minister is introducing separate to the Bill will, in effect, be merely window-dressing because the banks will still make their own decisions - perhaps that is what they should do, as they must assess the situation, gauge the level of risk and so on. While we want things to happen, we had better aim our shots at the right targets.

I want to raise another issue, that of transport and CIE, on which we are greatly indebted to our colleague, Senator Ross. Will the Leader bring the Minister for Transport, Deputy Noel Dempsey, to the House? It is scandalous that a State body kept from a Minister a report it had for a long time. A view is being given credence, rightly or wrongly, that what we have heard merely scratches the surface. We do not know if we have another FÁS on our hands but the sooner this matter is unearthed and the stones turned over, the better. I would be grateful if the Leader could arrange such a debate.