Paschal Donohoe (Fine Gael)

No previous Minister for Finance was more enabled or strengthened, in the context of the banking situation, than the current Minister, who led the way for the recapitalisation of the banks, introduced the banking guarantee scheme and was praised for his virtuoso performance during last week's debate on the National Asset Management Agency Bill 2009. If any Minister in recent Irish history has had the ability to challenge the banks, it is the Minister, Deputy Brian Lenihan. That is what this country wants him to do now. I would like to emphasise two points that have been made by my colleagues. It has been repeatedly suggested during the debate on the banks that we need to change the culture of Irish banking. Those who are at the forefront of that culture spoke in the last week when they said "No" to change. They do not want it, which is why severe and strong Government action is vital.

We have a duty to emphasise the obvious point that the banking sector is perfectly willing to publicly challenge a decision taken by the Government that introduced NAMA, the recapitalisation scheme and the bank guarantee to assist that sector. We must respond to the attempts of the banking sector to challenge the legitimacy of the Government's authority in this area. They must be responded to and challenged. I am aware that a recently published book, "Who Really Runs Ireland?", is doing well in the bestseller lists in the run-up to Christmas. It is clear who the banks believe to be really running Ireland.