John Gerard Hanafin (Fianna Fail)

I request the Leader to arrange for a debate on banking, particularly in light of the fact that HBOS, Halifax Bank of Scotland, is to let 750 people go. Unfortunately, banks that set up in this State do business here in the good times and when the tide turns they walk away or do not act properly in their dealings with this State. I am thinking in particular of Ulster Bank which is not lending or not giving funds to the Irish banking sector. Now that HBOS is leaving or diminishing its interest in the Irish market, it should make a strong effort to cut its losses, which it would have in any event. It should consider its employees and ensure that the third banking force, which evidently will form, will have the benefit of its staff and customers and that it does not lose its customers in the three month window of opportunity we now have. We should avail of that time and opportunity and that requires not only Government effort but an effort on the part of Halifax Bank of Scotland.

The financial situation in Greece was mentioned and a parallel was drawn between it and the situation here, but the reality is that there are contrasts between Ireland and Greece. The EU has told Greece that it must improve its financial measures and it has commended Ireland on the financial measures we have taken.