Gerard Craughwell (Independent) | Oireachtas source

On the issue of what happened at the weekend I was appalled by what I saw. I believe there is still a crime of incitement in this country and I believe that those who bring people onto the streets have a responsibility to ensure that those people behave themselves properly. What went on at the weekend in this country does not reflect the democracy in which we live. I am sick and tired of champagne socialists taking people onto the streets and talking about the poverty in which they live, when they know sweet damn all about that poverty. I ask that not only do we condemn it but that the Garda Síochána should investigate what happened at the weekend to see if a crime was committed.

I wish to address Senator Zappone's issue with the Central Bank. I, too, have concerns about the Central Bank and the limitations that will be set on mortgages. I am very concerned that we may in some way soften what the Central Bank is trying to do. What we do not want in this country again is another bubble appearing as a result of a lack of discipline in our lending system. Most people in this Chamber had to raise a 20% deposit in order to secure a mortgage back in the good old days when we had some bit of sense of how to run our country.

Ultimately, if there is a demand for the 20% deposit, pure economics will kick in. As people will be unable to buy the houses, the prices will fall and the market will regulate itself. I would be reluctant to soften anything. We have seen what softening has done. It has denied an entire generation the possibility of ever buying a house. Before we rush to try to loosen what the Central Bank is trying to do, let us take the time to look at the damage we might do to the next generation.