Senator Bacik calls for Debate on Banking Policy, and Women's Participation in Politics

Order of Business

Senator Ivana Bacik: I support the calls for a debate on banking policy today. I also call on the Members on the Government side who called for an urgent debate on the issue to support the amendment to the Order of Business such that we can have the debate today, a day on which everyone is shocked by the revelation of the excessive and reckless losses incurred by the Irish Nationwide Building Society, bearing in mind its relatively small loan book. In the debate we could usefully look at what has happened in Iceland, if we could see it through the clouds of volcanic ash erupting there. In Iceland there was a robust banking inquiry, in which were named the small number of individuals found responsible for collapsing its banks. We could learn from this. Senator Boyle's rather vague description of the banking inquiry to be held here is simply not sufficient to answer the public demand for an open, transparent and public banking inquiry. There is clearly a public demand for such an inquiry and it is what we need. Senator Boyle…

Interruption…

…I ask for a debate on the legislation proposed by Senator Boyle to remedy certain excessive payments made to individuals in banking. Some of the suggestions he made were very sensible. We look forward to seeking legislation from the other side of the House and debating it.

I also ask the Leader for a debate on another matter, in respect of which we can learn from Iceland which looks to women politicians to try to fix its collapsed economy. Women were elected to replace the men who had led the country into chaos. One woman in the other House would make an excellent Minister for Finance in the next Labour Party-led Government and I believe she will be the next Minister for Finance.

Senator Terry Leyden: Is it not a Labour Party-led Government? Am I mishearing

something?

Senator Ivana Bacik: I am talking about Deputy Joan Burton.

An Cathaoirleach: There are to be no interruptions. The Senator's time is up.

Senator Ivana Bacik: In that context, I ask once again for a debate on women's participation in politics. We have been promised such a debate many times in the past few months. Members on both sides of the House are seeking a debate on the issue and I ask the Leader to commit to a date as a matter of urgency.