David Norris (Independent)

I accept the Minister of State is not qualified in this area but her reply is a most astonishing statement. Of course, there is ministerial responsibility in this matter. I would not have been permitted by the Cathaoirleach to raise it if there had been no ministerial responsibility. That comment should be struck from the Minister of State's speech. I know this is not her area but I would like her to take the message back to the Minister for Finance, Deputy Brian Lenihan, that there is ministerial responsibility in this matter.

This is a grossly serious matter which has been reported to the Financial Regulator. A man has lost his job as a result. He honourably resigned. The degree of breach was 40 times the accepted margin. This is a disaster. If we are not prepared to face the issue and investigate it when it has been laid before the House, there is absolutely no hope for the financial system or its reputation worldwide.

I accept and understand it is not possible to anticipate what I will say in a debate; therefore, I will excuse the reply on that basis. However, I have made very clear requests that this matter should be examined. How can the Finance Regulator investigate himself? He was in breach of his responsibility. That is the first point. The second is that the bank must be pursued and that the honour of the man whose reputation has been traduced must be restored. It not too much to ask in this Parliament that this should happen. I want the process to start tonight. I gather from the Minister of State who is nodding that she will undertake to do so, for which I thank her.