Paul Coghlan (Fine Gael)

I am seconding them if that is allowed. I am in the Chair's hands. I appreciate that we will have some certainty by tomorrow regarding the final estimate by the Department of Finance of the taxpayers' exposure Anglo Irish Bank. However, we are equally concerned to bring certainty and finality to the entire banking sector. I am speaking about the real systemic banks, AIB and Bank of Ireland. I am aware the latter bank had a successful rights issue by way of recapitalisation but AIB is in a tricky situation in light of what is going on between Santander and M&T Bank in the United States. This needs to be resolved because taxpayers are exposed through the increased stakes in these institutions that the Minister for Finance has taken on their behalf. As the Leader will no doubt appreciate, these stakes will probably increase further.

The Minister waxed eloquent in the past about a third force in banking but this proposal appears to have dropped off the agenda. The proposal is important for the future of our economy and the availability of credit. We know how people have been squeezed and the anxiety that all the financial institutions feel to renew the arrangements of clients in order to clobber them with increased interest and reduce the availability of credit. This is a serious issue and I am aware it is close to the Leader's heart. He often refers to ICC, which no longer exists. I would like to hear from him and, more importantly, the Minister about the position of the proposal for a third force. It has slipped off the agenda and we have heard nothing about it for the past 12 months. It needs to be resurrected. What proposals, if any, have been made to amalgamate weakened institutions in order to strengthen competition in the economy?

Finally, I wish to speak about the legislation for a mayor of Dublin. It is an all-encompassing item due to be published which the Minister for the Environment, Heritage and Local Government, Deputy Gormley, referred to yesterday. As I understand it from what can be read today, the position of the present Lord Mayor of Dublin, who resides in the Mansion House, is to cease with local elections in 2014.

I know there were private briefings for Members on the Government side from two Ministers, Deputies Dempsey and Pat Carey. This is a very important matter for this institution, given the composition of our electorate consists. Four local authorities will be involved, although I know we have not yet seen the Bill. I fail to see how, with the powers of managers, this will work out. Will the Leader arrange for a briefing for this House on the functions, powers and responsibilities being proposed for the mayor, who will be known as a lord mayor and dispossess whoever is in the Mansion House after the 2014 local elections? I look forward to hearing from the Leader.