Dan Boyle (Green Party)

I agree with Senator Donohoe that the role to be played by the Governor of the Central Bank is vital. His appointment has been excellent. We could have been in a position where the Secretary General of the Department of Finance would have been appointed as Governor of the Central Bank, as occurred in the past. That the Governor has been appointed and has the necessary independence is one of the good things going for us at present. That the Governor will be centrally involved in the negotiations to try to secure the best possible deal for the taxpayer is desirable.

We are still talking about what type of facility we will be using. Formal negotiations will not start until the Cabinet makes the decision on whether it will get involved in them. However, we will be using some facility. There will be money coming from outside sources and it will be directed towards elements of the sovereign debt created by the banking crisis. That is the reality and I do not see any denial. That said, there should not be a pretence that, if change occurred tomorrow and there were a different Government, any of these problems would be solved.