Paudie Coffey (Fine Gael)

For many months Members have been discussing how countries are bailing out banks. Ireland is among them, as has been proved by the millions and billions being pumped into its banks. The time is almost approaching when the question will be raised as to who will bail out countries. Members must ask themselves fundamental questions regarding European stability and that of the euro. I ask the Leader to make provision for a debate on the subject because not only our economy but the entire European economy is in a serious state.

I note that the Minister for Finance is now open to considering the possibility of winding down Anglo Irish Bank. This has come like a bolt from the blue because he has continually dismissed this option in the past year while pumping millions of taxpayers' money into the bank to keep it alive. He has been pumping taxpayers' money into what essentially is a zombie bank. Consequently, it is now surprising to learn that he is willing to consider winding it down. However, Members on this side of the House would welcome doing so because this has been the Fine Gael position for some time.

Yesterday evening I watched with interest some American politicians on television as they hauled banking leaders before a committee and made them answer questions under oath on their roles and responsibilities in the banking crisis in that country. Is it not a great shame that something similar cannot be done here under oath in Parliament to have proper accountability and transparency regarding banking and Government decisions? This possibility must be examined because, when one considers the millions thrown at tribunals, it would save money. The full potential of Ireland's parliamentary system is not being exploited. This issue must be examined.

The most sad and devastating news of all concerns the possibility of a further 800 redundancies at Quinn Insurance Limited. While this is devastating news for the families and workers concerned, it is news that has been shared in other regions on foot of the closure of SR Technics, Dell and Waterford Crystal, as well as the thousands of other small companies in which there have been redundancies. More than 435,000 people are unemployed, which constitutes a rate of 13.5%. This does not take into account the 52,000 people on the waiting list to receive social welfare assistance or those already attending FÁS training courses. Yesterday I called for a debate on youth unemployment, but it must now be broadened to consider the entire subject of redundancies and unemployment because no plan or structure to tackle it appears evident. I, therefore, table an amendment to the Order of Business to the effect that Members discuss the issues of unemployment and redundancies as a matter of urgency.