Seanad debates

Wednesday, 7 March 2012

11:00 am

Photo of Mary WhiteMary White (Fianna Fail)

I have already said that I would like the Minister for Finance to attend the House to tell us what he is going to do in this regard. Some €3.5 billion was supposed to be released into the economy by AIB and the Bank of Ireland every year, but they are not doing so. At the Fianna Fáil Ard-Fheis, Deputy Micheál Martin said that if banks will not release funding then it is time to introduce legislation to force them to do so. I was disappointed by what the Minister said yesterday. He is listening to the banks and is being taken in by them, but he is not listening to business people. Everybody knows there is no money available. I know the Minister, Deputy Bruton, is well-intentioned but the banks are bluffing. We have a liquidity crisis and an economic crisis due to the failure of getting cash into the economy.

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