Paschal Mooney (Fianna Fail)

Although I had not intended to refer to the issue, I welcome the comments made by Senator Donohoe and hope the Leader will take them on board. In light of the lies the former Greek Government told the European Union about the requirements for entering the euro zone, for which they are now reaping the whirlwind, some economic commentators are suggesting the figures for Ireland might be questionable. I do not think the commentator in question was trying to set an agenda but it would be horrendous if the international bond markets had any whiff of anything untoward in the statistics provided by this country in the last 20 years to EUROSTAT. Senator Donohoe was right to raise this issue and it should be debated to offer an opportunity to the Minister for Finance to state unequivocally that the country has an international reputation for probity. The international bond markets and commentators have welcomed the harsh but necessary decisions that were taken to turn the economy round.

The travails of the Quinn Insurance Group have been raised in the House on many occasions, particularly by Senators from Cavan. This morning representatives of 150 companies circled the M50 and came up the quays. Many of the vox pops on radio suggested the Government should intervene in the decisions of the regulator. I have a deal of sympathy with those people but we either have independent regulation or we do not. I have the greatest of sympathy with those workers in Cavan who are wondering if they will have jobs next Friday, when the administrators make their decision. As a public representative from County Leitrim, where there is a significant number of workers from the Quinn Insurance Group, I feel helpless. How must the workers in Cavan feel? There must be something that can be done to shift the regulator and to accelerate his decision to at least open the northern market for Quinn Insurance if he is not prepared to extend it into the British market. I make this plea as a representative in the Oireachtas, that the regulator will make a decision promptly so those workers in Cavan do not have to spend the weekend worrying whether they will be able to pay their mortgages or put food on their tables.