Ivor Callely (Fianna Fail)

On this our first sitting day in 2010, I wish everyone well and I look forward to working with all Senators in making good progress with our endeavours. I join previous speakers in congratulating Senator Mooney, his wife Sheila, his family and his friends on his re-election to the House. I wish the Senator well.

I also wish to offer my condolences to Senator Regan on the death of his father-in-law. The Senator raised a very interesting issue in the context of the Danish system of control relating to statutory authorities. For the record, I believe some work in that regard has been done in this country. There are issues in respect of data protection, the sharing of information and the creation of big brother scenarios. I listened with interest to Senator Regan's comments and perhaps it might be possible to make progress along the lines to which he refers.

I am of the view that the vast majority of people have a low threshold for strike action and industrial unrest. Members of the public recognise that more productive outcomes can be achieved by way of negotiating. It is regrettable that due to the fact that new equipment which is designed to improve air passenger safety was being introduced, air traffic controllers felt compelled to take action. The latter was followed by a reaction from the Irish Aviation Authority, which gave rise to the situation in which we now find ourselves. Those involved should seek a resolution without delay.

I listened with interest to the comments of previous speakers in respect of a banking inquiry. Both the Taoiseach and the Minister for Finance have stated that the public is entitled to a full examination in respect of what went wrong. The Government is intent on providing what everyone wants, namely, an inquiry into what went wrong. I received a document from a former Fine Gael Minister - it made for interesting reading - who has been through a tribunal of inquiry. Anyone who has not already read the document to which I refer should do so. The document would lead one to say that we should learn from our past mistakes with regard to the appointment of tribunals of inquiry, some of which did not fulfil the purpose for which they were established.

The Taoiseach and the Minister for Finance have endeavoured to establish an inquiry, restore public and international confidence in the Irish banking system and do that which was outlined by Senator Wilson. We need a functioning banking system because there are individuals and small and large businesses which are suffering, not as a result of bad practices employed or decisions taken by people within the banks but because of a lack of liquidity in the system. A cash injection is required in order that we might kick-start the economy. If a debate is to take place in the House in respect of the inquiry, provision should be made to discuss fully the liquidity that will be injected into the system in each of the four financial quarters of this year.