Paschal Mooney (Fianna Fail)

I suggest the repeated requests for a debate on the banking crisis are fuelled by concerns about the lack of credit from the banks to small and medium-sized enterprises. Perhaps the Leader would consider widening the debate on banking to include proposals on job creation and resolving this severe imposition on small and medium-sized enterprises. Everybody knows they are hanging on by their fingernails in the hope that NAMA will free up credit.

In facilitating this debate, will the Leader examine the role of Mr. Trichet, the European Central Bank and Germany, which seems to be the driving force protecting the euro? In light of what is happening in Greece, there is a growing view among economists that we at least need a debate around the question of having a devaluation of the euro. If that were to happen, I suggest in the context of a request to the Leader, this would be of enormous benefit to this country as a trading nation. We have suffered grievously in recent years because of the strength of the euro vis-À-vis our two main trading blocs, the sterling area and the dollar area. Perhaps we need to get clarity and to find out exactly why the European Commission is delaying a decision on NAMA so that we can get the concept rolling and, I hope, so that we can then release credit where it is needed most not only to protect jobs but to create new ones.