There is no fuzzy thinking here. The Taoiseach said the taxpayer would not be at a loss because of the injection into Anglo Irish Bank. We now have a situation where he admits that more than €20 billion is lost forever down a black hole. Think of what could be done in our country if that type of money were being pumped into construction, infrastructure or jobs.

Second, the Taoiseach was wrong when he and his Minister said that NAMA would provide a wall of cash. More than 800 businesses have gone to the wall since the start of the year. Some 452,000 people are out of work and thousands more are facing an uncertain future because of the reckless mismanagement of the economy by the Government.

Third, the Taoiseach was wrong when he said there would be no sweetheart deals. Am I to understand that on a loan-by-loan basis, NAMA has already made particular conditions for one very large developer who is unable to comply with the loan conditions granted in the first instance? There are no sweetheart deals for those in negative equity. There are no sweetheart deals for those who cannot pay their mortgages. Yet it appears the same old circle comes around again for Fianna Fáil in government whereby particular operators can be given sweetheart deals.

The Taoiseach also said — and he was wrong on this — that NAMA would provide a profit of €4.8 billion. Yet the Minister for Finance himself — not anybody on this side of the House — spelled out a situation where, he said, hundreds of millions of euro could potentially be lost. If the Taoiseach is saying the Minister's thinking is fuzzy in this regard, he should take that up with the Minister.

The Taoiseach was wrong in respect of the wall of cash; he was wrong in respect of the sweetheart deals; he was wrong in respect of credit for business; and he was wrong in his assessment of how this process would help the economy to pick up. Will he at least take his courage in his hands, as the leader of the worst Government in the history of this State, and go to the country in order to let the people decide what they want in terms of government for the future?

Hear, hear.

When that happens you will be found out again, Enda.

Let the people decide whether they want a party with a serious plan to get our country back to work and to sort out the economy——

Does the Deputy have a question?

He does not understand the answers, so he has to keep saying the same things.

——or that crowd over there, a Government which offers statements and principles that are grossly untrue time after time. It will stand condemned by its own words.

I will try to deal with that stream of consciousness as best I can.

The Taoiseach should be allowed to respond without interruption.

First, the Leader of the Opposition decides to attack the integrity of the board of NAMA which has a statutory authority from this House to operate independently of anyone else based on the provisions laid out in the relevant Act. He is suggesting that the integrity of those individuals should now be impugned.

The Taoiseach said there would be no sweetheart deals.

That is ridiculous. If that is the level of debate we are going to have, it is just a joke.

The only joke is standing before us.

Here we go again.

The scenario outlined in the draft plan for the National Asset Management Agency of a profit of €4.8 billion was based, as stated in the first sentence of that report, on the information being provided by the banks at the time. The agency has now produced its quarterly report, as required under the Act, and is setting out its central projection based on current asset valuations, projecting forward for the next ten years. The board is making the point that the agency should emerge with a profit, as it sees it. The report sets out other scenarios where the agency might make a higher profit or else make some losses. If losses do emerge, they will be levyable on the financial institutions concerned.

That is what the board of NAMA is saying, but the Deputy is misrepresenting that. He is trying to suggest that I am saying one thing and the Minister is saying another. The National Asset Management Agency is making the assessment on the basis of the detailed data it now has which are based on the loans it has brought over from the balance sheets of the banks. The purpose of the agency is to provide for a viable banking system and to provide the prospect of credit. The Deputy is suggesting he has the right policies, but his policy in this regard was to default. The European monetary system is prepared to bring forward provision in the order of €750 billion to protect the currency on the basis that it does not wish to see any default. The Deputy, however, is bringing forward the idea that we in this country we can have a default mechanism.

It would have saved €6 billion. Some €20 billion has been lost.

Clearly, if we had done that we would not have a banking system at all. The Deputy should go off for the summer and try, with his new finance spokesman, to come up with a policy that can actually be debated.

The Taoiseach should go off into the sunset.