Paul Coghlan (Fine Gael) | Oireachtas source

That is Government policy - we are not going to interfere. We must have commercially viable, profitable banks. I am not standing over the decision, which will be very tough for mortgage holders.

We must go down the route proposed by Senator Barrett, which is supported by the Minister of State, Deputy Hayes. I am delighted there has been a meeting of minds on that because there must be proper regulation and supervision of the banking system, which was certainly lacking during Fianna Fáil's time in office.