Nicky McFadden (Fine Gael)

I support the call for a debate on banking. I also agree with Senator Ross that we need action. I wish to raise the issue of the faceless bondholders because their names should be published. We need to see who these people are and how we are bailing them out. The other issue I wish to raise is the €15 million top-up for Mr. Boucher's pension which should either not be paid or else should be returned. Under the banking guarantee scheme the Minister for Finance has the option and power to intervene. The Minister should come to the House to answer those points.

On another point, thousands of public sector workers are being encouraged to agree to a new pay deal which means they will forgo an increase in their pay for four years. It is a real kick in the teeth for these people to hear that this banking official who has destroyed our banking system will be given a top-up of his pension. Why are the members of the Opposition being penalised by the public sector local authority workers along with Fianna Fáil members who have been in Government for 20 years and who have caused this heartache for them? It is not fair.