Paul Coghlan (Fine Gael)

I second the amendment to the Order of Business proposed by my colleague, Senator Fitzgerald. As she said, it is a sad day for the country, especially the workforce, given the increase in the number of people being thrown onto the dole. It is sad to see a further 750 bank staff facing that immediate prospect when we need consolidation in banking. That was promised by the Government but it has not been delivered.

Sadly, the Government has done nothing through the public interest directors or otherwise through the system to be more assertive in regard to the management of the banks and the proper controls that need to be in place. We know the State will be required to take an additional equity stake in the banks as part of the ongoing recapitalisation process. It was interesting to see that illustrious gentleman — the new bright light — the Governor of the Central Bank echo what we have been saying in this House, namely, that the banks have totally lost their edge in regard to small business lending. We have all been very concerned about that in this House. He has pointed out, as we on both sides of the House have done for a long time——