Marc MacSharry (Fianna Fail) | Oireachtas source

I join Senator Wilson in asking for a debate on the performance of the Governor of the Central Bank yesterday. It augurs very badly for democracy in the State that the Governor is essentially admitting to the capitulation of the Central Bank to mainstream banks. I am sure that if any politician had made a similar statement, people would be calling for his resignation today. As Senator Barrett has often said, it has always seemed, during the term of the past Administration and this one, that there is a mythical backstairs to the Department of Finance and the Taoiseach exclusively for the use of senior bankers and their interests. That has been borne out today considering the performance of the Governor of the Central Bank yesterday. It seems the same backstairs is available in this case. The people come last while the banks and institutional interests come first. We have seen this throughout a wide variety of Government policies and it certainly does not augur well.

Further questions must be asked on a slightly different issue, namely, media monopoly. We have had promises of legislation to govern this area. However, in the interim, we have seen a scenario in which one particular interest can gain control over what constitutes approximately 90% of the readership of the country. In a development this month, it seems one individual will have editorial control over the political writings of all the publications of one particular media grouping. That is not healthy and does not augur well for democracy. It does not augur well for politicians if they overlook such a scenario without trying to legislate for the protection of citizens. We have seen two instances of it today and perhaps a debate could be organised on both.