David Norris (Independent)

It is many months since I said in the House that the Government in confronting the financial crisis should take decisive action by amalgamating the three principal banks, nationalising them in one clean, surgical sweep and taking Anglo Irish Bank out into the middle of the Atlantic and sinking it. I have repeated these sentiments on a number of occasions and, as far as I know, they have never been reported by any journalist. I make them again today. When I first made them, the Minister for Finance, Deputy Brian Lenihan, a man for whom I have great respect and admiration and a man of courage and integrity, said Anglo Irish Bank was of systemic importance. That means the system must be saved at the expense of the people. I do not think so. It is time we considered the people and challenged the system. It should be challenged on a Europe-wide basis because this is part of a global problem.

We had our own vanilla bubble and did make a complete mess of things in a spectacular way, but what about the ratings agencies, about which I have speaking for the past year - Moody's, Standard & Poor's and Fitch? They were criminally complicit in the entire mess that originated in America - a bubble of froth from the New York Stock Exchange. They are not basing their estimates on real, scientific analysis but on what they call market sentiment. The market is a wonderful concept, but it does not operate for the corporate bankers, corporate gamblers, swindlers and preferential bondholders. Market forces are suspended for the big people. It is the Leona Helmsley effect. She was right - it is only the little people who pay taxes. We were told the figure would be €4 billion. I was advised by a very remarkable man, Mr. Peter Mathews, who I hope to God will be given a senior position in administering the destruction of Anglo Irish Bank, with some other commentators, in the interests of the people. He said it would cost €30 billion. We now know that is a fact. What a tragedy. What could that €30 billion which has been poured down the drain have done for hospital services, education, infrastructural and transport projects? That is why I seek a continuing debate on the matter because it is a catastrophe.

While I do not endorse physical attacks on the Houses of the Oireachtas, I can understand the anger that lies behind them because people are witnessing their jobs disappear and houses being repossessed, while the corporate gamblers get away with it. This is appalling and it is a worldwide phenomenon. Mr. Warren Buffet, a remarkable man, has decided to give away three quarters or more of his enormous financial reserves. That is a conscientious decision and he is now being followed by 50 other billionaires in the United States. I wonder why. Have they got a whiff of the tumbrils? They are not doing it from philanthropy but because they know there is a crisis brewing. I stand with the workers of the other 11 European countries who are protesting today. We should forge alliances with the Greeks, the Portuguese, the Spanish and with all those countries which are threatened to put it up to the system that it must be radically challenged.

I propose an amendment to the Order of Business in the light of the Cathaoirleach's remarks. I am forced to accept what he said about Senator Callely's situation. That is perfectly appropriate. I do not intend to mention it, but when the Cathaoirleach says, as he regularly has to, that there is not time to hear all of the informed views of Members of the House, I do not think it is appropriate that we should pass a resolution limiting the time available without a discussion. We should have one. I, therefore, propose that we take No. 1 with discussion.

Will the Leader provide an update on No. 1 on the Supplementary Order Paper in my name and those of my colleagues dealing with the proposal to relocate the Abbey Theatre to O'Connell Street? We need something visual to lift the people in the run-up to 2016, something of which we can be proud because the bankers, the churches and the Oireachtas have let us down. The one thing that survives is the brilliance and majesty of our creative artists which we should celebrate within Europe in a new and imaginative way. I ask the Leader for an update on that matter.