Awaiting the banking agreement
Senators Mullins and Coghlan hope the emerging banking deal will benefit jobs and the national interest, while asking the Leader to schedule a debate once its terms are confirmed.
We all agree there were some fantastic contributions in the House last night on the emergency legislation which had to be enacted. Everybody wants the best possible deal for the country and the word on the wire in the past couple of minutes is that a deal has been done. We all hope it is favourable for the country, that it will ensure resources which are badly required for job creation, about which Senator Mary White spoke so passionately, will be available. I hope that is what will flow from it. Whatever its shape, we are all wearing the green jersey and irrespective of our politics, we all want the best possible outcome for the people. I compliment the Minister for Finance, Deputy Michael Noonan, who gave an outstanding performance in the House. He has been sure-footed throughout the process. He did not panic when others urged him to take this or that route. He maintained a steady course in negotiating on behalf of the nation and I am confident the fruits of his labours will be revealed later in the day. We owe him a debt of gratitude.
Comment on this
It is good to note Members are alert having been in the House until 6 a.m. That we have rehashed the issue debated last night is probably understandable.
Comment on this
I do, which goes without saying. As the Cathaoirleach might say, it is a sine qua non. We all know a deal was effectively negotiated which I hope will be signed off on today, but if not, we must be patient for a little longer. Much has been said about what was inherited from a previous Administration, including I think by Senator Mary White. It could have happened to any Administration but certainly the Administration of which she was a member was kept in the dark by the banks and, effectively, had a gun put to its head. Those on this side took it in trust and good faith, wearing the green jersey on that occasion, and I am glad to acknowledge, as others have done, that that party has done something similar on this occasion. However, the circumstances are very different. We are in possession of facts and have not had a gun put to our heads. We had inherited an arrangement on which we could not have reneged. That is the difference. As stated by another speaker, the legislation was prepared months ago, as the Minister made clear last night, and proof read by the Attorney General.
Comment on this
I hope the deal is signed off on today or if not, it may take a while longer. I ask the Leader to arrange for a debate on whatever deal is agreed in Frankfurt.