I ask the Cathaoirleach to indulge me briefly. I pay tribute to all Members of the House who took part in the fashion show for motor neurone disease on Tuesday night. Despite some media comment, I commend in particular some of the male Members who took part.

I join other Senators in commenting on the banking situation. I agree with many of the sentiments expressed on all sides of the House about the behaviour of the banks. However, I find one element quite perplexing, which is the role of the banks' public interest directors. On the one hand the banks' chief executives tell us that public interest directors' first responsibility is to the bank and that they have a duty to work collectively with the board of directors to ensure the bank becomes profitable and successful. However, they were appointed as public interest directors. I do not know what is going on here, but they are certainly not serving the public interest. In my humble opinion their positions are untenable. It makes a mockery of the people, the Government and the future of banking in this country.

The Senator is right.

Unless there is absolute clarity on the role of the public interest directors and the areas of public interest they are obliged to serve, their positions are untenable and they should resign. I call on all banks' public interest directors to consider their positions and resign because clearly they are not serving the public interest.