Darragh O'Brien (Fianna Fail)

With regard to the proposed appointment of Mr. Kevin Cardiff to the European Court of Auditors I remind the House the purpose of the European Court of Auditors is to ensure that EU taxpayers receive maximum value for their money. The court has the right to check and audit any person or organisation handling EU funds and frequently carries out on-the-spot checks. I ask if the Government can confirm who proposed Mr. Cardiff for the vacancy arising next February. Does the Government still support the proposal for Mr. Cardiff to take up that post? I note in a statement today from the Department of Finance that the Government fully supports the proposed appointment. The Leader will note the concerns raised by his colleagues and the Deputy Leader's colleagues in Europe, which are shared by both me and my party. I question the appointment of a person to the European Court of Auditors who presided over €3.6 billion being unaccounted for in the Department of Finance. This is beyond belief. When will the Government withdraw the nomination of Mr. Cardiff in order to counteract the embarrassment which will be brought upon the country should he go for interview? I expect a direct response because the Government cannot and should not proceed with this nomination. It is as plain as the nose on one's face. This charade should cease and the Government should look elsewhere or else consider extending the tenure of the individual in the position who has done a superb job.

Mr. Draghi has recently been appointed as head of the European Central Bank. The 0.25% reduction in the interest rate is very welcome as is a further interest rate cut to the base ECB rate. A number of institutions such as Bank of Scotland Ireland, Irish Nationwide, Permanent TSB, KBC and EBS have announced they will be passing on this rate reduction to variable mortgage holders and this is to be welcomed.

We heard yesterday, and it was reported today, that National Irish Bank intends to increase its variable mortgage rate by 1% rather than decrease it. This will affect 200,000 variable mortgage holders. I am sure all colleagues in the House find that decision disgraceful. I also find disgraceful the silence of the two Government-supported institutions, Bank of Ireland, which also covers the ICS, and AIB. Hundreds of thousands of other mortgage holders are anxiously waiting to see whether these institutions will pass on the rate cuts. In its programme for Government, the Government promised that banks in receipt of State support would be forced to forego 25 basis points increase on their variable mortgage rates. Already this year we have seen two rate increases for variable mortgage holders with nothing being subsumed, as was promised by the Government. There has been complete inaction on this. The Financial Regulator, Mr. Elderfield raised this issue three months ago.

I propose to move an amendment to the Order of Business, to call for a special debate to be held in this House to find out what contact there has been between Government and, specifically, AIB and Bank of Ireland, into both of which taxpayers' money has been paid to keep them afloat. Mortgage holders are still being crucified but we have control over those two banks. I remind the Government it promised faithfully to increase to 30% mortgage interest relief for those who bought houses between 2004 and 2008. That has not happened although there was a sop by way of the Keane report. I was told by the Minister of State, Deputy Brian Hayes, that we will have resolutions before the budget. What are the Taoiseach and the Minister for Finance doing now? Only this week, the Minister stated, by response to the rate cut-----