Paul Coghlan (Fine Gael)

There is no doubt we are in an dangerous place - standing on the brink - and we all have duties to stabilise finances and assist in restoring foreign confidence. Foreign confidence is one of the major ingredients that is absent. Fine Gael will publish its plan and its commentary on the four-year budgetary plan. We will present budget proposals in advance of the budget. Who knows what will happen following the meetings that took place with Commissioner Olli Rehn. Matters are evolving.

Regarding the mortgage difficulties referred to by Senators Fitzgerald and O'Toole, our concern in seeking a debate relates not to those who engaged in property speculation or who have a multiplicity of properties and are in difficulty but with genuine family homeowners. Something must be provided in order that they can park debt or park interest for an interim period to assist those genuine people in dire straits. This will be made more difficult because we will all be hit by the budget on 6 December. In support of what Senator Fitzgerald said, I plead with the Leader to arrange a meaningful discussion on this subject. I acknowledge that Senator MacSharry and others have done some work on this area and it is now timely to revisit it.