I am quite disturbed by what we learned yesterday from the Governor of the Central Bank. I second Senator Mark MacSharry's request for a debate on this issue. The European Central Bank, ECB, has decided it will not participate in the Irish banking inquiry. This shows a total disregard for the European concept of democracy. It looks like Mr. Draghi will not be dragged before the Oireachtas to explain the ECB's role in our bust. The Irish banks did not get the money to fuel the boom that led to this unholy bust from the sky. Somebody somewhere gave them the money and it now looks like those who gave it to them want to wash their hands of it. They have forced us to repay their bondholders and put the economy on the rocks to save the ECB.

The European Central Bank was the ultimate authority when the Irish Central Bank failed to bring in controls to manage he economy. People sat on their hands and allowed it to happen. Now Mr. Draghi and his cohort have turned around and said we can hold an inquiry, but they are not going to come here and answer for their part. I yesterday called for a vote. I said the banking inquiry was a farce. If we cannot have them attend, that is all it is. I, therefore, second Senator Marc MacSharry's request that we hold a debate on this issue. I disagree with the Senator on the 20% deposit issue and I am sticking to my guns on it. A 20% deposit is essential to cool the market. We can pretend there is no bubble, but we all know there is. There was a time when a person could borrow only two and a half times his or her salary. Now a person can borrow three and a half times his or her salary. I am running a survey of councillors across the country. Most councillors want a loan-to-income rather than a loan-to-value regime introduced. I ask the Leader to arrange the debate.

Senator Michael Mullins called for a debate with the Minister for Education and Skills on guidance counselling. I second that request also. I ask, however, that we do not have that debate before 10 December. I have arranged a briefing session with the National Parents Council, the guidance counsellors' association and Headstrong. That meeting will take place on Wednesday, 10 December, and I ask that as many Senators as possible attend. Then we will be able to have an informed debate.