Terry Leyden (Fianna Fail)

I agree with Senator Donohoe that this is a national crisis and that everyone has a role to play. On the bonds issue, we are funded until the middle of next year so there is no need to raise further funds in October and November. I believe December is a closed month. It would be irresponsible to have a bond auction especially given that the current rate is 6.9%. That is far higher than Ireland should be charged at this stage.

I commend the Minister for Finance, Deputy Brian Lenihan, and the Government on making very hard, strong decisions last night. Like Senator Donohoe, I appeal for a type of Tallaght strategy. Never before have we needed such a strategy involving in particular the main Opposition party. From what I can see, the less responsible the other party, the Labour Party, is in regard to the guarantee——