Darragh O'Brien (Fianna Fail) | Oireachtas source

I thank the Minister of State for bringing the motion before the House. Irrespective of whether we like it, it is necessary. The Minister of State has outlined the progress made on the stabilisation of the banks which started some time ago and which all of us welcome. My only comment is that when we note the passing of this important motion, the progress being made in the banks raising funds and that their capitalisation levels are greater than those of the Swiss banks, as the Minister of State mentioned, what is forgotten - I am not saying by the Minister of State specifically - is that we must ask ourselves what are the banks doing for the punter, the customer and the taxpayer who bailed them out. I spoke at length last year on a similar motion and nothing much has changed in that regard. Businesses still have difficulties in accessing credit. We still do not have mortgage resolution measures that we were promised would be forwarded to the Central Bank by 30 September. The banks have still not come up with cohesive policies on how to deal with that issue. In this respect, there is one nut for the Government to crack and it is not just the game changer of the Personal Insolvency Bill the Minister of State mentioned but also provision for those who are struggling to pay their mortgages. This needs to be done. Unfortunately, we are in situation where we have to do whatever is required by the banks. Thing are improving, which is great, but are things improving for the punter? No, they are not. We will support the motion, but let us move to deal with the real issues affecting people. I am not diminishing the importance of the motion which we have supported since the inception of the measure. We brought it forward in the first instance and there was no question of not supporting it. However, early in the new year I would very much welcome - I ask the Minister of State directly for this - a decent and open discussion on what the banks are doing not only for mortgage holders with totally unsustainable debt but also for those who are just clinging on.