David Norris (Independent) | Oireachtas source

On the question of privatisation, as a good old pinko, I bring to mind the words of Oliver Goldsmith:

Ill fares the land, to hastening ills a prey,
Where wealth accumulates, and men decay.

I am delighted for the shareholders in the Kerry Group and so on. It appears to be the only and spectacular success in respect of privatisation. I cannot think of another one. It indicates a situation in which a small group of people - more power to them - managed to succeed but no one can deny the country still is going down the drain. I believe we should go along the way of Nicaragua and try to find a blend between the social conscience of the left and the incentives provided by the economic right. As for the children, everyone agrees that at an early age, a second year free in education is the most vital thing and it carries rewards all the way through to university. Consequently, I am delighted to see an unusual outbreak of harmony within the coalition on this issue. I note Ministers from different parties agree on this issue and I support them absolutely 100%. In light of what has been said here today, I seek a debate on the economy.

We could examine the entire issue, from a left-wing to a right-wing approach, and pick out what could be good from each.

I commend Senator Hayden on her comments on various schemes, including pilot schemes. We need a critical voice in Seanad Éireann and it is great to hear an intelligent critique of what is happening as opposed to carping and destructive criticism. The pilot scheme, which I believe will involve 700 people, is another attempt by the banks to wrest complete control from the people and dump debts that were largely caused by their stupidity, folly and greed on the credit unions, which cannot sustain additional burdens. Let us not fool ourselves; nothing will be wiped out unless it is to the banks' advantage. This scheme does not have a snowball's chance in hell of working.