Ivana Bacik (Independent)

I join my colleagues in congratulating Senator Cummins on his new role as Leader of the House. I wish the best of luck both to those who are contesting the election as well as to those who are going on to other careers. I am told there is a life after politics.

Given that the economy is uppermost in our minds, I hope the renegotiation of the IMF-EU deal will bear fruit. I am sure all of us were concerned to learn that the Taoiseach will not seek an immediate deal on the interest rate but is parking the issue pending the outcome of the stress tests on the banks. This underlines the critical nature of these tests for our economy and, in light of what is happening in Portugal, everyone is understandably nervous about what will happen. I hope and believe the renegotiations will enable our economy to recover.

Other speakers have referred to the appalling human catastrophes unfolding in Libya and Japan. As Senator Dearey noted, the natural disaster in Japan, compounded by the crisis in the nuclear reactor, points to the need to debate the issue of nuclear power and the potential of renewable energy as a safer alternative.

The abolition of the Seanad is on the agenda of the new Government but this alone will not bring about the fundamental political reform which people clearly demanded in the recent election. If we are to abolish the Seanad, this should be done only as part of a comprehensive reform of the Oireachtas that ensures the scrutiny we bring to Committee Stage of Bills such as the one introduced by Senator Boyle is incorporated into the business of the Dáil by, for example, electing a number of Deputies on a national list system. This would allow for closer attention to the national interest and the sort of debates we have held in the Seanad. It is important that we consider overall reform of the Oireachtas in the context of debate on the future of the Seanad.