Marc MacSharry (Fianna Fail)

I welcome the Minister of State to the House. This is not the time or the place to get into a Second Stage debate on banking, NAMA or the budget. We have had opportunities to do this doing the week. I welcome this motion, which sets out the basic terms and conditions of a guarantee. The primary legislation was passed in the summer and this is an extension to it. It is good and appropriate as part of the rehabilitation of the banking sector to clean up the banks' balance sheets and get credit flowing. I look forward to a fuller debate on banking, the problems many of us have with it and the proposals we have to improve it. I do not propose to react to Senator Twomey's contribution with regard to the Government being the softest touch. This motion is specific to the eligible liabilities guarantee. I welcome the terms and conditions of it. It has been a long week for everyone and I do not intend to delay the House any further.