The Government established a special Cabinet committee on mortgage arrears. We have had the Keane report. There has been much soul-searching as part of the attempt to provide answers to the 118,000 people who are in significant mortgage arrears of over 90 days. The Irish Examiner summed up yesterday's rushed press conference very well when it referred to it as a "newsless news conference". Another columnist described it as "a very moving waste of time".

How many reports did the Deputy commission when he was in government?

In many ways, it sums up the Government's approach, which is really more about spin than about substance.

The Deputy is the King Kong of spin.

This serious issue affects people in mortgage arrears. I would like to mention something that was not announced yesterday. It did not merit a Government press release or press conference. Last week, the Minister, Deputy Burton, commenced a statutory instrument and laid it before the House. It was buried in Iris Oifigiúil. Essentially, it begins the phasing out and cutting of mortgage interest supplement, which is the most practical scheme that helps low-income families to avail of State support to keep the banks at bay and stay in their houses. Where is the social solidarity? The broken promise of burning the bondholders will get its final burial this week, when €1 billion is paid by the Taoiseach.

One would think the Deputy had never been in government.

Where is the social solidarity? How can the Labour Party stand over the phasing out and ending of the mortgage interest supplement scheme, which has been of benefit to 19,000 families?

How can the Deputy stand over what his party did in government?

We all know that figure has jumped significantly in the last two years.

Thanks to the Government of which the Deputy was a part.

It is likely to jump again. The low-income families that have been able to avail of this scheme will no longer be in a position to do so. They will have to deal with the banks first. They will have to make payments for 12 months before they will be considered for the mortgage interest supplement scheme. The Taoiseach briefed the banks yesterday, but he would not brief this House or the public on the details of the Bill.

That is rich.

We have tabled a notice asking for the statutory instrument in question to be annulled. Will the Taoiseach agree to annul the instrument, which will make it much more difficult for low-income families to apply for mortgage interest supplement relief in the future?

I am not interested in the speculation to which the Deputy has referred. Newspapers are entitled to write their reports as they see fit. That is their business.

Deputy O'Dea writes some of them.

He is job-sharing with the Sunday Independent.

Representatives of the Economic Management Council and the banks met each other yesterday evening. At that meeting, the banks did not receive any detail in addition to that provided when we announced that the Government had approved the personal insolvency legislation. Unlike meetings that were held in Government Buildings in the past, a full written account of this meeting will be available as a record of it for posterity.

Will there be a file on it or will it be shredded?

Corporal O'Dea is back.

The Taoiseach is well capable of looking after himself.

Bring back Dan Boyle.

I want Deputy Martin to understand that the mortgage arrears sub-committee has met six times in the last six or eight weeks to push this through to a conclusion. The legislation will be published and the details will be provided on Friday. I want to make it perfectly clear that this is not about people who cannot pay - it is about people who will not pay. The lenders do not have to wait for the legislation to be implemented before they start to sit down with their customers and borrowers to work out solutions. If the banks respond to the Keane report by actually pushing through the options and facilities that will be made available to them, the need for the personal insolvency legislation to be used will be greatly diminished. The statutory instrument mentioned by Deputy Martin arises from people entering into the mortgage arrears process within the Keane report. It is for that reason that the Minister initiated the statutory instrument. That will proceed.

Can the Taoiseach explain that again? His last comment-----

It is recommended in the Keane report.

I am not asking the Minister. The Taoiseach seems to be completely unaware-----

It is recommended in the Keane report.

It is not about the Keane report. It stems from the Social Welfare Act.

As per a recommendation in the Keane report.

It is commencing an order emanating from the Social Welfare Act. The Taoiseach does not seem to be aware of that. When he held his big press conference yesterday and all the lights and cameras were there-----

The Deputy would not read his own reports when he was in government.

It was called the action plan for mortgage arrears.

The Deputy was there for 15 years. He is like Peter Pan.

He seemed to be blissfully unaware about a very significant measure taken by the Minister for Social Protection which will restrict the ability of low-income families to access mortgage interest supplement relief, which is a very practical step-----

What did the Deputy do in government?

Do not be getting shirty about it because you know it hurts.

The altar boy mask is slipping.

These people over here know it hurts.

The only job the Deputy was after was Brian Cowen's job.

The Labour Party arm of the Government, in particular, promised that there would be social solidarity.

The Deputy is only a con artist.

I asked a very basic question of the Taoiseach.

He is only a con artist.

If the Deputy does not stop interrupting, he will go out.

I will repeat the basic question I asked the Taoiseach.

The Deputy is only codding the people.

Will he repeal the wrong decision that has been taken?

He is only a con artist.

I have told the Deputy to stay quiet.

The statutory instrument is a wrong decision. I think it should be repealed.

Will the Deputy put his question?

It is very difficult with the kind of heckling that is going on.

The Deputy ought to be ashamed of himself. He is a fraud.

In fairness, a Cheann Comhairle, I am doing my best to put the question.

A question, please, not a statement.

I am entitled to a minute.

You are not entitled to make a statement.

Here we go again.

You are entitled to a minute to ask a supplementary question.

I asked a basic question.

We cannot hear him.

I ask the Deputy to mind his own business.

It is likely that thousands of people will get into mortgage arrears in the coming weeks and months. What was, essentially, a very practical scheme has been cut and phased out.

Please ask your supplementary question.

That is the impact of the statutory instrument. I asked the Taoiseach if he will repeal that statutory instrument.

Thank you.

There were no press conferences about it but he should do it. It is the honourable and right thing to do by low income families who will bear the brunt of this decision It is not the banks or anybody else, but those families who will get into difficulty in the coming weeks and months.

It is the banks.

It is the banks which will get this money. This year it will cost about €50 million. This recommendation was made as part of the Keane report. It is an incentive for banks to sit down with their borrowers to work out solutions for people-----

A permanent solution.

-----who are getting into mortgage arrears.

The banks will retain the veto.

See you next week.

The Taoiseach could not answer that question yesterday.

There is no intention of repealing the statutory instrument. Under this system and for those in this category, the banks will be in receipt of €50 million of taxpayers' money.

The Taoiseach cannot answer any question.

The Deputy deliberately misunderstands.

The Minister might find something under a trolley.

Macho, with an altar boy's face.

Please go on making a show of yourselves. I call Deputy Adams.

Another report.

Once again the Taoiseach-----

Please stay quiet and allow the Deputy to ask his question. There is a time limit on this. Will Deputies please pay the courtesy to the Chair of allowing the Deputy to ask his question, without the interruptions from both sides? Thank you.

The Taoiseach has another European crisis summit. In his interview in The Irish Times today he spent most of his time explaining why the issues affecting this State will not be raised by him. That has been his constant mantra before and after every summit he has attended. Yesterday, I asked the Taoiseach if he would bring a jobs stimulus plan to this summit; the answer was "No". I asked if he had concrete proposals about how the EU structural funds should work; the answer was "No". I asked if he had explored how funds from the European Investment Bank could be used in conjunction with the National Pensions Reserve Fund to stimulate growth and jobs; the answer was "No". He stated his position: "It is not Ireland that is in focus at this time." That is his explanation for not raising these issues.

He also welcomed the Van Rompuy report which sets out a charter for closer EU integration on a banking, fiscal and political union. The Taoiseach must know this means more co-ordination on tax policy, even more dilution of Irish sovereignty and stronger EU involvement in State budgets. Is that not the real reason he is not bringing forward his own proposals for growth that would get our people back to work? Is it not because he supports these federal EU propositions?

Deputy Adams is wrong on all counts, as he usually is. This Government has repeatedly made the case at European level, both politically and at official level-----

Pass the point.

-----for the need for growth, jobs and a stimulus to drive and encourage movement in the European economies. The meetings on Thursday and Friday will deal with an increase in funding that is available from the European Investment Bank which, in turn, will leverage further moneys but it has to be made available to countries that are in vulnerable positions or those such as Ireland that are in a programme. That is the first answer, a "Yes", which Ireland will articulate very strongly.

Second, I refer to the approval of project bonds. This is an opportunity for flexibility to be shown by Europe in respect of these bonds which have only applied to huge intercontinental infrastructural developments such as motorways, autobahns or railroads. Project bonds would be useful for smaller countries but flexibility must be shown in that regard. That is an issue I will articulate, along with a number of other smaller countries, namely, that as part of the growth and jobs stimulus project bonds should be flexible enough to cater for smaller countries.

Third, I refer to creative ways of using structural funds that remain unspent in countries. This country has spent all the structural funds that were allocated to it. Greece, for example, was allocated €16 billion which it cannot spend because of the requirement to put up moneys from a national perspective. In an overall sense, significant amounts of structural funds will not be spent. The political challenge is to find a creative way of not withdrawing money from envelopes allocated to individual countries but finding a facility whereby when money is not spent over a range of countries a creative way can be found to use it.

Some €100 billion of new money went to Spanish banks.

Romania, for example, cannot draw down all its structural funds and there are a number of other problems in that regard. In those three areas, in respect of the growth and jobs agenda, Ireland will be very strong in articulating what is in both our interest and the interest of the eurozone. The problem, however, is the banking crisis and that is the issue for Friday's meeting. The problem we face here is that if one accepts the principle of European decision-making and sharing of liability, the corollary is also true. In Ireland's case what happened was that the direction was given from Europe and the Government lay down in front of it and accepted that the Irish people should shoulder all of that liability. That is where there needs to be change. That is the design flaw that applies within the eurozone.

As I stated in that interview, the eurozone banking crisis is holding back this and every other country. As an exporting nation we need other European economies to be thriving and getting stronger so that they will buy our goods. Europe as a whole buys from other countries around the world; it is a global situation. The real opportunity on Friday is for political leadership. Speculators and those who write and comment can say what they like. This must be a political process with a political decision that will set clarity of structure and strategy in which markets and investors can have confidence and understand the strength of and the future of the euro and the eurozone. That is a political problem that must be dealt with by political leaders. We - and I - will articulate this. I will articulate that argument very strongly on behalf of the Irish Government and the people. What was accepted in the past is the cause of the problem. The principle of acceptance of European decision making and sharing of liability was not applied in the case of this country - to our cost.

Once again, the Taoiseach has totally ignored the question. He also engaged in extreme revisionism.

You would know a lot about that.

Never in the IRA.

Shake the hand that shook the hand.

Without interruption, please. Thank you.

What was the question I put to the Taoiseach? It was about his support for the Van Rompuy proposals for a federal Europe. His rhetoric about wanting to be the Taoiseach who restores sovereignty is only that. It is like the nonsense from his partners in the Labour Party. The fact is he is not bringing forward proposals for job stimulus

Where are your proposals?

He is not bringing forward any of the propositions we put to him.

A question, please. Thank you.

He knows there needs to be a clear plan for renewal, growth, jobs and investment but his Government does not have that. There needs to be a clean-up of the toxic banking debt.

A question, please. Thank you.

His Government does not have that.

Shake the hand.

Le do thoil, a Cheann Comhairle.

Please stop the behind the scenes shouting. Please put your question, Deputy Adams. There is one minute for a supplementary question.

The question is this. It is only a month since we had a referendum on the austerity treaty, which was advocated by the Government and Fianna Fáil. We pointed out at the time that it would not work.

What is the question? Please put the question. Will the usual suspects ever stay quiet, just for two more minutes?

Will the Taoiseach accept that the people who voted, through gritted teeth-----

The Deputy has only one minute left.

He has abdicated responsibility.

-----in favour of that treaty will feel very badly let down by him when he says to them, "Before you go". Imagine if this was a Munster final.

Thank you, Deputy. We will get the Munster final next month.

Ireland is not the focus at this time. Why turn up? The Taoiseach is going as a spectator instead of a player and I am very disappointed in that.

The Deputy is wrong again. I reported to the other political leaders on the Government's publication of its own action plan for jobs nationally, with 270 propositions to open the doors of business. I reported and discussed with the other leaders the renegotiation of the memorandum of understanding by the Government in respect of job opportunities and taking the lower paid out of a requirement for certain payments and so on. In addition, I presented a report to the other leaders in respect of small and medium enterprises and how the doors for opportunities could be opened. That will be reported on again and responded to by the Commission very shortly.

The Van Rompuy report sets out a strategy for greater cohesion but for the development of the eurozone and the European Union. I support the question-----

Sin é.

-----of creative use of Structural Funds. I support the question of flexibility for project bonds suitable for smaller countries and I support the leveraging up of extra finance for the European Investment Bank.

European integration.

I expect to meet the head of the European Investment Bank here shortly.

A federal European Union.

The Deputy should know this is about the opportunity to provide other moneys for infrastructure here, be it bundles of schools, primary care centres or other pieces of infrastructure. In that sense it is not about a federal Europe, which I do not support.

The Deputy mentioned the phrase "extreme revisionism". This is a day of particular significance for the country. For the Deputy, extreme revisionism is something that he could be open about now because while we differ here on all of these political issues, there is one thing that I have in common with him-----

Just one.

-----and it is that in the context of extreme revisionism neither he nor I were members of the IRA or the IRA army council.

I call Deputy Boyd Barrett.

I thank the Taoiseach for that.

Could Members settle down for the next speaker, Deputy Boyd Barrett, please?

Are the Members finished talking now? Deputy Boyd Barrett to proceed.

Deputy Ferris is being very disorderly.

I thank the Ceann Comhairle.

I do my best for the Deputy.

As the Taoiseach rightly suggested, Fianna Fáil bankrupted this country by providing a blanket guarantee to bankers and bondholders-----

We are all agreed on that.

-----yet the Taoiseach's Government has continued this disastrous policy at a terrible cost to ordinary citizens who have lost their jobs and seen their incomes and services butchered. The Taoiseach has extended that policy by continuing to pay off unsecured and unguaranteed bondholders.

Can we have a question?

Yet no matter how much the Taoiseach grovels to the troika and to Angela Merkel she snubs her nose at us and insists that we take more pain and now she wants to do the same to Spain and Italy. Yet against this background this week the Taoiseach's Government is in the process of paying over €1 billion to Anglo Irish Bank and Irish Nationwide bondholders. Is not the equation in terms of this transaction very simple and very cruel? Somewhere in the Mediterranean or the Caribbean a multimillionaire speculator will be cracking open a bottle champagne to celebrate his profits bonanza and the stupidity of the Irish Government-----

That is a good soundbite.

-----while somewhere in rural Ireland-----

What would the Deputy know about that?

-----a community fears for the future of their school, or the parents of children with intellectual disabilities-----

The Deputy would know nothing about rural Ireland.

Will the Deputies allow the Deputy in possession to put his question?

A question would be welcome.

-----fear for their child's future because of the loss of vital supports, or more families are made homeless as a result of the Government's cuts in rent allowance.

Thank you, Deputy.

What is the question?

Why does the Taoiseach not save these vulnerable people more suffering by refusing to enrich the multimillionaire speculators in Anglo Irish Bank bonds and go to the European Council and tell Angela Merkel that we have had enough-----

Keep your money, Angela, we will be fine.

-----that the people of this country have had enough suffering and they will not continue to take the pain for her and the multimillionaire speculators?

Thank you, Deputy. The Taoiseach to reply.

That is a great strategy.

I am not sure what Deputy Boyd Barrett's question is. I thought he was going to tell me-----

Go to the European Council and tell them-----

We do not want any more money.

The Deputy does not want any more supports from them either, is that it?

I thought Deputy Boyd Barrett was going to tell me what day he has chosen for his day of national protest.

It is 18 July. I am glad the Taoiseach mentioned it.

That is the day the Dáil will rise, is it?

No, the day before.

I have made it clear before that we share the public's dismay at the cost of honouring the banking debts, considering the role of the banks in the economic crisis. When the Government was appointed we raised this with the ECB and with the various authorities at European level. The fact is the vast majority of Anglo Irish Bank debts were paid off by our predecessors in office. Some €15.7 billion was paid out in senior unsecured bonds since the Government of the day issued a blanket guarantee back in September 2008 and €160 million remains to be paid after this week. If one allows Anglo Irish Bank to default clearly that would create doubt over future funding being made available by the European Central Bank to Irish banks at very low interest levels and we would see a renewed flight of funds and ever tighter credit conditions being placed on potential Irish job creators. We cannot and will not have that.

As I said to Deputy Adams on many occasions, we are not going to default, especially as we have rebuilt the reputation, trust and the confidence of this country. What we need now at political level is a political decision to deal with the eurozone banking crisis. The changes being made by Government are challenging and great credit is due to the people in accepting those changes and for the clarity of their decision, not least in the Deputy's constituency, in respect of the fiscal stability treaty. The crisis of the moment is the banking crisis within the eurozone.

The Van Rompuy paper, referred to by Deputy Adams, is a strategy and a roadmap where growth and opportunity can be created but for me and for the other leaders, the question is what political decisions can be made on Friday in regard to the immediate crisis in the banking situation within the eurozone and to set out that pathway and strategy where confidence, trust and stability can be restored. It is important for investment into the eurozone, investment here, purchases of goods and dealing in the euro. All of those areas require political decisions and that process has to start on Friday.

If I understand the Taoiseach correctly, what he is saying is that maintaining our good reputation with some multimillionaire on a yacht who is celebrating tonight his good fortune-----

-----over the decision to pay back bonds is more important than the future of children with intellectual disabilities------

He probably went to St. Michael's.

-----who have to face the year ahead without vital supports that they need-----

He probably went to St. Michael's-----

-----or small rural schools that face closure-----

The Deputy knows nothing abut rural schools.

-----or families that are being turfed out on the streets.

A question please, Deputy.

That is what the Taoiseach is saying.

I am interested in what the Deputy is saying. Could I have a supplementary please?

Today and tomorrow the Taoiseach intends to pay €0.5 billion back to these bondholders in order that our reputation is good with them. Is that what the Taoiseach is saying?

Thank you Deputy.

Of course, the bondholders must love us; Angela Merkel must absolutely adore the Taoiseach at this stage.

Thank you, Deputy. Is that your question?

Is our reputation with those people more important than the future of vulnerable citizens and children and ordinary people in this country who are being crucified with the cuts that are having to be made in order to repay these speculators-----

What is your question, Deputy?

-----and bondholders?

The Deputy is delighted with austerity.

What sort of priorities are those?

Deputy Boyd Barrett does not seem to understand or appreciate the consequences of default. His whole philosophy in this House has been negative, a case of do nothing, work for nothing, pay for nothing. Part of the discussions-----

People are working very hard.

-----on Thursday and Friday are specifically about-----

Please allow the Taoiseach, please.

-----increasing the extent of funds available to the European Investment Bank which will, please God, have a direct impact on many of those communities whose schools are in poor shape. What is being negotiated is the opportunity to provide bundles of primary care centres or schools under the PPP, public-private partnership, system, provided the conditions can be applied and that the extra funding made available through the EIB can be provided for countries in vulnerable positions such as Ireland. This is in addition to the €17 billion capital programme which the Government has set out for the next number of years in order to deal with the provision of a range of facilities, including some of those to which the Deputy referred.

The Deputy well knows that every country has to borrow money. Does he think in that ruthless world of commercial lending, where these situations apply-----

Ruthless is the right word.

-----that this country could expect to continue to be funded if we were to default or not measure up to our responsibilities?

Do not guarantee the bonds.

Ireland's reputation is of a country that will do what it says it will do, that it will meet its requirements, provided we get the extra assistance and flexibility. This country has made significant progress in the past 15 months. The Deputy seems to argue that we should get the money, not pay it back and expect to get more at the same level.

It is not our debt.

That is absolute nonsense. The Deputy does not live in the real world if that is his philosophy.

It is proposed to take No. a8, motion re ministerial rota for parliamentary questions, without debate; No. b8, motion re membership of committees, without debate; No. 1, Criminal Justice (Withholding of Information on Offences Against Children and Vulnerable Persons) Bill 2012 [Seanad] - Second Stage (resumed), to adjourn at 5.30 p.m. if not previously concluded; and No. 6, Microenterprise Loan Fund Bill 2012 - Order for Second Stage and Second Stage.

It is proposed, notwithstanding anything in Standing Orders, that the Dáil shall sit later than 9 p.m. tonight and shall adjourn not later than 10 p.m.; Private Members’ business shall be No. 56, motion re arts and culture (resumed), to conclude at 9 p.m. tonight, if not previously concluded.

What is the point of order?

He did. For some reason or other, the Ceann Comhairle refused him and said he could raise it on the Order of Business. It is a matter to be put to the House and agreed.

Does Deputy Stagg object to what is being proposed? I asked if it is agreed and nobody said it was not agreed.

We wanted clarity before it was agreed.

There is no clarity-----

He is entitled to ask for clarity on an issue before it is agreed.

On what issue? Is it the proposal regarding motion re ministerial rota for parliamentary questions and membership of committees agreed?

He wishes to raise the motion on membership of committees.

It is on the Order Paper. Can Deputy Stagg read?

It is a motion without debate.

The Ceann Comhairle was putting a question to the House as to whether we agreed to that being taken without debate-----

And nobody disagreed with me.

Deputy McCarthy was looking for clarity on the motion before it was put to the House.

He cannot have clarity.

Of course he can.

No, he cannot.

Of course he can.

Deputy Stagg, please resume your seat.

That is a new Standing Order which the Ceann Comhairle is making up.

Please show some respect for the Chair and go and learn the Standing Orders.

I do not respect wrong decisions by the Chair.

I call Deputy Martin.

Deputy Stagg should read the Order Paper which contains the Order of Business. That is where he will find it.

The reason Deputy Higgins is raising his voice is that he is a second Wallace under house arrest.

Resume your seat, please.

We would not get away with that.

Is Deputy Keaveney here?

None of us would get away with it.

On forthcoming legislation, I wish to point out to the Taoiseach that the Keane report did not recommend the ending of the mortgage interest supplement scheme. In my view he should not have distorted its recommendations in his response to my earlier questions. The report looks for sustainable models but nowhere in the Keane report is there a recommendation for the ending or the phasing out of the mortgage interest supplement scheme, which is a scandal in terms of what-----

We are not going over that issue again, Deputy. We are on the Order of Business.

Will the Taoiseach give the House an indication and an outline as to when it is proposed to circulate the personal insolvency Bill, the timetable for Second Stage debate and for Committee Stage and ultimate implementation and commencement? We need some idea of the timeline for implementation of the proposed measures.

The personal insolvency Bill will be published and circulated on Friday and a full press conference will be held on Friday to deal with any questions on the details of the Bill. It is expected that Second Stage will be taken probably next week. It is not a fact that the banks must wait for the Bill to be enacted before they start dealing with their customers and their borrowers. The very fact that the legislation is being produced and published and is going through the process, is an opportunity for banks and lenders to sit down and work it through with their customers. The Bill will be published on Friday and all the details of the technicalities will be available on Friday. The Whips will make arrangements for the Second Stage to be taken probably next week. I expect a lot of interest in this Bill. We will accommodate the House by making as much time as possible available for the Second Stage debate, given the proposal for a summer recess. However, I want to see Second Stage concluded after everyone has had an opportunity to participate in the debate.

What is the timeline for Committee Stage?

I will not give the Deputy a timeline for Committee Stage because I do not expect this will be concluded before the summer recess. There is a great deal of interest in this legislation but if we can have concluded Second Stage before the summer recess we will be doing very well.

Will it be held in October?

I would say that is probably a realistic time period, when the Dáil resumes after the summer recess. We can work through the Committee Stage process. October is a good bet, I would think. We are anxious to have it finalised appropriately around that time.

Ceann Comhairle, please.

I call the leaders first and then I will call other Deputies.

I think a wee dose of rescue remedy for the Government Deputies might be useful in these sessions.

The process outlined by the Taoiseach for dealing with the personal insolvency Bill is most unsatisfactory. It is obvious the Bill is ready.

It is not a case of the personal insolvency Bill not being brought to the House. On Friday, I want Members to have a copy of the Bill, the explanatory memorandum and the questions and answers across a spectrum of areas dealing with this.

After the media have it.

The Government approved it yesterday.

The banks were briefed first.

It must be proofread, printed and prepared to be available on Friday.

We can proofread it too.

That is the reason it will be brought to the House next week. It is not a case of having it physically available for Government Deputies; it has to be done for everybody. It was approved yesterday, will be published on Friday and all the details will be in the House next week for the start of the process.

The fiscal stability legislation will be introduced in this session also.

The Taoiseach cleared this Bill with the banks first, before coming to the House.

Deputy, we are not having a debate on the Bill.