Ivana Bacik (Independent)

I support the calls for a debate on banking policy today. I also call on the Members on the Government side who called for an urgent debate on the issue to support the amendment to the Order of Business such that we can have the debate today, a day on which everyone is shocked by the revelation of the excessive and reckless losses incurred by the Irish Nationwide Building Society, bearing in mind its relatively small loan book. In the debate we could usefully look at what has happened in Iceland, if we could see it through the clouds of volcanic ash erupting there. In Iceland there was a robust banking inquiry, in which were named the small number of individuals found responsible for collapsing its banks. We could learn from this. Senator Boyle's rather vague description of the banking inquiry to be held here is simply not sufficient to answer the public demand for an open, transparent and public banking inquiry. There is clearly a public demand for such an inquiry and it is what we need. Senator Boyle-----