Seanad debates

Thursday, 12 November 2009

11:00 am

Photo of Eugene ReganEugene Regan (Fine Gael)

We have established the European Commission must be notified of the NAMA project. Whether it takes two or six months before it approves or attaches conditions to the project remains to be seen. Will we know what is notified to the European Commission? The Minister of State, Deputy Mansergh, ditched the business plan which we were led to believe underpinned the project and provided the financial detail. It is important that we know what is being said to the Commission and that our version in the Houses is not different.

The Government must also give notification of its restructuring plan for the banks. This is a legitimate issue for discussion in the House because it would allow us to ascertain the substance, and not just the form, of the legislation.

I join other Senators in congratulating all those involved in securing the release of Fr. Michael Sinnott. The good works done by missionaries in many of the countries in which they operate have a profound effect on the goodwill towards this country. This is true from both tourism and business perspectives. The entrée it gives to Irish people, be it in Mexico, India, the Middle East or any of the countries in which I have done business, is pronounced. The effect and impact of the missionaries' work over the years is evident today. The country is indebted to them and it is very important that we recognise that.

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