Paul Coghlan (Fine Gael)

To add to the comments of Senator Cummins and many others, the Minister must urgently clarify his position beyond doubt. Having listened briefly to an interview he gave on the "News at One", while I do not believe he has blinked — to use Senator Ross's term — the leaks indicate that the bank has engaged in a pre-emptive strike.

The proposed dual role for the chairman gives rise to corporate governance issues. More important, however, is that with a deposit guarantee and the National Asset Management Agency in place, by the time recapitalisation has been completed the Minister will be the majority shareholder in the banks. As Senator Ross noted, this episode gives rise to an important question of authority. It is ridiculous in the current circumstances that a bank should be able to ride roughshod over the Government. The Minister must urgently clarify his position on the matter.

Public interest directors have been appointed to the banks. Perhaps the House could hear directly from Mr. Dick Spring, a highly reputable and reliable public interest director, and some of the other public interest directors on the matter.

I welcome the lifting of the blockade at Killarney National Park and compliment the efforts of the Irish Hotels Federation, Killarney Tourism, Killarney Chamber of Commerce and other bodies which liaised intensively and engaged actively in recent days to help people to see light. I also compliment Senator Boyle on his efforts last week which failed. I ask the Leader, perhaps through the good offices of Senator Boyle, to ensure we redouble our efforts in the matter. The persons involved have written to the Minister requesting that the five Oireachtas Members from Kerry South meet the Minister for the Environment, Heritage and Local Government, Deputy Gormley, urgently to break the impasse.