John Gerard Hanafin (Fianna Fail)

Like other Senators, I am concerned that it has come to the attention of the Central Bank that bonuses are being paid. What are the bonuses for? There is nothing in the banking system from which to take any good cheer such that anybody should be paid extra for the work he or she is doing. If it was not for the direct indication from the EU that it does not want any default on any bank debt, many of us here on this side of the House would be calling for a default. However, it is clear that the EU does not want a Lehman's type situation and that is understandable. With that in mind, it is time we had a debate on this matter. If the bankers have not learned anything from all that has happened, where are we going? It is not a question of being Scrooge at Christmas time; the reality is that there is no reason for a bonus to be paid. There is no good news in the banking sector that warrants anybody getting bonus payments at the moment; they are lucky to have their jobs.