Seanad debates

Tuesday, 30 March 2010

2:00 am

Photo of John Gerard HanafinJohn Gerard Hanafin (Fianna Fail)

I ask the Leader to write to the Russian ambassador offering support at this difficult time following the terrorist attacks on the Moscow metro. It must be terrifying to be trapped within an enclosed, possibly dark, space when a bomb explodes. I can think of few more frightening experiences. Yesterday's bomb attacks were a heinous crime.

I welcome the progress made in talks with the trade unions, specifically the changes proposed in the public service. The agreement should return us to an even keel. I request that public service employees discontinue the work to rule action.

We have reached the final stage of the measures required in the banks. Although it appears at this difficult juncture that it will be necessary to put further significant sums into the banks, the measure should provide the banks with sufficient funding and the impetus needed to allow them to start lending again. While many bank officials are a little wary and, from what we have heard, saddened by the inevitability of the State taking majority control of the banking institutions, recent developments are the consequence of greed by a small number in the banks. Bonuses were paid not on the basis of quality but on the quantity of loans and without regard to their true value and long-term sustainability. Today we will see the fruits of greed.

Comments

No comments

Log in or join to post a public comment.