Over a year ago, the Taoiseach personally promised what he called a game-changer approach in terms of legislation for the retrospective recapitalisation of Irish banks. Will he introduce legislation to deal with the retrospective recapitalisation? Some legislation is promised on this, but will it deal with the public commitment the Taoiseach gave and which he called a game changer? Second, the Government has agreed to introduce legislation regarding the sale of loan books and family home mortgages by regulated financial institutions to unregulated financial institutions. Will the Taoiseach wait until all the loan books have been sold before the legislation is put in place, or will the legislation be passed as a matter of urgency, even though it is too late for some of them?

A number of loan books have been sold and those who have bought them are voluntarily complying with the Central Bank's code of conduct. In respect of recapitalisation, the decision was made by the European Council in 2012. A number of discussions and detailed negotiations have taken place to put all the pieces of the jigsaw together. The option is open to the Government to consider this towards the end of this year. The supervisory mechanism and the other elements of that have now been put in place, principally driven by Ireland as the country that was mainly the focus in this regard. That work proceeded during the early part of this year and is now practically complete. The Government will consider towards the end of the year whether it wishes to pursue its claim in that regard. It is an option that remains on the table.

I would have thought the Deputy would have welcomed the decision arrived at by ECOFIN and the Eurogroup in respect of approval for Ireland to buy out IMF loans that were borrowed at much higher interest rates than we can currently secure on borrowings. The process is that the individual parliaments give their approval, and we hope that will be forthcoming following the agreement of ECOFIN and the Eurogroup. It is very much in the interest of our country.

I call Deputy O'Dea.

So what the Taoiseach described as a game changer regarding retrospective recapitalisation has now been relegated by the Government to an option for consideration?

Sorry, Deputy; we are not having a debate on this.

It was a game changer two years ago and now it is only an option for consideration.

The Taoiseach should not reply. We are not having a debate on this issue. I call Deputy O'Dea.