Paul Coghlan (Fine Gael) | Oireachtas source

I have previously called for a debate on banking, as have other Members on both sides of this House, but we have seen further worrying developments on the banking front. In particular, a proposal has been made during our Presidency that uninsured depositors should be bailed in so that they do not rank far ahead of other creditors. One can imagine what such a measure would do to confidence levels. I do not expect any kind of bank collapse or wind down but, God forbid, if such an event occurred I would worry about a drift of deposits out of the country. This proposal should be killed off because it represents an extremely worrying development.

The question also arises of the licences in the IFSC, to which Michael Somers referred recently. All of us know the importance of the IFSC to the economy, not to mention the capital city, given the thousands of jobs it provides. Three or four large institutions are handing back their licences. What is that going to do for the city and the economy? We urgently require a debate on banking and I ask that the Minister for Finance make himself available in early course. This is a beautiful area of the city thanks to the regeneration policies pursued by successive Governments, not least the current one. I do not want to go on about its importance but it is hugely important.

I would be remiss not to mention the young chicks in Killarney National Park. Dr. Allan Mee announced that whitetailed sea eagles were also born last week in Mountshannon, where a couple nested last year. I do not know what happened to the eggs last year but we now know there are young chicks in Killarney National Park. These are the first whitetailed sea eagles born in Ireland. This is an important development for tourism and Members are welcome to visit the lakes. I know where they are nesting and I will show them to visitors from a safe distance.