Paul Coghlan (Fine Gael)

I support the remarks made by Senators Twomey and Boyle. I understood the Leader had already committed to having regular debates on the economy and the difficulties facing us. With regard to our largest bank, Allied Irish Banks, I understood it was a sine qua non that the stock market quotation would remain in place. However, there are persistent rumours that the bank has been overrun and we know it will be 92% to 95% State-owned. Is there now a suggestion in Government quarters that it will be nationalised completely? That would be a retrograde step, particularly following on what the Governor of the Central Bank had to say yesterday in his address to the Joint Committee on Economic and Regulatory Affairs when he responded positively to my question. Civil servants are not equipped to run banks. They are not into risk assessment, enterprise and allied matters. The Governor stated the sooner we got out of the situation in which we found ourselves, the better. However, we must bear with it because it will take some time to do this. I seek an assurance from the Leader on this question, in so far as he is able to give one. It is important, as Senator Twomey suggested, that the Minister for Finance come to the House to debate this and related issues. As the Governor said yesterday, we need some strong banking forces. The Government has abandoned the so-called third banking force idea. It is important and a national concern that we have two or three strong banks. Will the Leader give a commitment to have the Minister for Finance attend the House for statements on this matter?