Seanad debates

Wednesday, 24 March 2010

Order of Business (Resumed).

 

10:30 am

Photo of Ivor CallelyIvor Callely (Fianna Fail)

I join colleagues in congratulating the new Ministers. We wish them well in the challenges that present at this testing time. I read with interest various comments made in the newspapers today. We will need to wait for at least six months to see how the new team is performing. We wish them well in their endeavours.

I support some of the comments made and calls for a debate, as last week I asked the Leader for a debate on banking officials' attitudes and actions. Today we read in the newspapers that the property market in Ireland is estimated to be the third worst performing market globally, albeit that predictions for 2010 are good, with residential properties expected to be the top performers, especially in the Dublin area. However, we have problems with property, banking officials and SME supports. We also have individual consumer difficulties and serious liquidity issues in the marketplace. One questions the way in which banking officials are addressing applications for funding. I read a motto on a 2010 calendar page which read: "A bank is a place that will lend you money if you can prove you don't need it." Many would agree with this, particularly SMEs and individuals who just cannot get their hands on cash or avail of any level of credit support. That is because of the attitude of the banks which claim to have no liquidity. If one talks about housing and repossessions, one is sent from one department to another. In the light of some of the ruthless and reckless decisions being taken by various officials, whether in nationalised, semi-nationalised or State institutions, I ask the Leader to arrange a debate that would be innovative in bringing Ministers or people with responsibilities to address the broader issues associated with finance, property and people's rights and entitlements. Such a debate is much needed and I ask the Leader to try to accommodate my request if at all possible.

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