Brian Lenihan Jnr (Dublin West, Fianna Fail)

I believe I explained that in terms of the vast amount of public money that will be invested in the institutions as a result of the programme and the need to ensure the Minister for Finance of the day will be accountable for that substantial investment to Dáil Éireann, to which he is responsible. That is the primary reason.

The relationship framework is a very important provision that will facilitate the development of an understanding between the Minister and the Governor on the exercise of the powers. It does not in any way undermine the independence of the Governor, which is guaranteed by the preceding section, and provides a valuable structure for developing and understanding the relative powers. Of course, the legislation is temporary and therefore the scenario the Senator paints of some future Minister exercising powers against the Governor will not materialise; the Bill lapses at the end of 2012.