John Gerard Hanafin (Fianna Fail)

I join other Senators in calling for a debate on banking. I am particularly conscious of the calls made today to focus on the lack of credit. While Opposition Members have rightly focused on this issue, they are incorrect to question whether it is a good idea for the banks to retain €250 million rather than give bank shares to the Government. That sum of money could allow lending of €2.5 billion in each of the two banks in question. We have also heard complaints about the claim that credit will flow as a result of NAMA. Credit will flow by virtue of the toxic loans being taken from the banks.