Seanad debates

Wednesday, 24 November 2010

11:00 am

Photo of Paul CoghlanPaul Coghlan (Fine Gael)

I also welcome the debate on the four-year plan. We should bring the budget and the Finance Bill forward, which we stated yesterday. As we know, delay is the enemy. Our currency, the euro, and our banking system are at stake. As Commissioner Rehn stated in the context of the budget, we should get it over with and move on. We must do so.

Please God, the Government will be able to outline further details about the €85 billion rescue package, loan, overdraft facility or whatever it is. We must hope that it will prove to be the necessary firepower and that we will not need to draw much of it down. The interest rate will also be important. We are dealing with the health of a currency of which we are a part and that we must be prepared to defend. It is unfortunate that clowns in the banks were left in place. Not all were removed as they should have been. Whatever about mistakes and errors, we are where we are. The minimum we must do is save our banks and currency. Without those, we cannot live and trade.

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