Michael Mullins (Fine Gael) | Oireachtas source

Briefly, I join in the support for this Bill and congratulate the Minister on its introduction. As previous speakers have noted, it is technical legislation designed to ensure the smooth running of the banking inquiry. It is welcome to hear Members stating that the inquiry has got off to a good start. Thus far, proceedings are being conducted in a fair and balanced way and it is to be hoped the outcome will be that the type of scenario Members have witnessed and the hardships people have endured never again will be allowed to happen in Ireland.

I was very interested by Senator Quinn's contribution on early warning systems that would alert the authorities to possible difficulties within the banking structure and in these days of improved technology, it should be possible to have a system that would alert the Minister and the Governor of the Central Bank to issues of concern. I wish the Chairman and members of the banking inquiry well for the difficult task that lies ahead of them.

I share the concerns expressed by Members in respect of the potential large costs that may be incurred in legal fees. While I do not expect anybody to work for nothing, I appeal to members of the legal profession to be reasonable in the fees they charge the inquiry for their services. I again compliment the Minister on the job he is doing as Minister for Finance and acknowledge that much of the progress made can be attributed to him and to the Minister for Public Expenditure and Reform for the sure-footed way they have steered the ship of State over the past three and a half years.