John Gerard Hanafin (Fianna Fail)

I support calls for a debate involving the Minister for Finance. Naturally, I would not expect him to cancel all his duties today and put down his tools immediately in order that we could debate an issue that could be debated on another date. In particular I note the bank regulator appears to be doing very good job at the moment in outlining exactly what needs to be done to ensure confidence in the market. There appears to be very strong international confidence in the work he is doing. Of course we have had bad news, but it is important we hear it now and deal with it.

We have sympathy, of course, for those people who have built up fine businesses, including the Quinn Group. Notwithstanding that, the Quinn Group is still a fine business and hopefully it will continue to thrive. That said, I suggest that before we make calls, individually, about what the Government can do, bear in mind that it could not have interfered in Irish Nationwide's decision to grant the €1 million to Mr. Fingleton, because at that stage it had neither given the guarantee nor had control of the building society. It is only now that we can make those decisions. I am certain the slow but very meticulous and correct procedure of due process is clearing out many of the difficulties in the banks and ensuring that throughout the country people with assets who have debts are now paying them in full, despite the impression given by the Opposition.