Order of Business - 2nd March 2010

Order of Business - 2nd March 2010
Senator David Norris: A group of people, some of whom are hard of hearing, visited the Oireachtas a week ago. They contacted me afterwards to point out, quite reasonably, that churches, cinemas and theatres in this city have hearing loops to enable people with hearing difficulties to hear what is going on, so therefore it seems strange that such a facility is not available in this Parliament. I ask the Leader to check whether this matter can be raised at the Committee on Procedure and Privileges.


Senator Rónán Mullen: We have loopers all right, but no loops.


An Cathaoirleach: No interruption, please.


Senator David Norris: I support my colleagues on both sides of the House who have asked for a debate on banking. We need to monitor the NAMA situation. We need to counter the misinformation that is being put out. The EU has not sanctioned or given the green light to NAMA.


Senator Terry Leyden: Really?


Senator David Norris: It just has not given it the red light. We need to look at this again. The US had a similar situation with TARP I. They voted it down and brought in TARP II. We know that the loan amounts are grossly inflated. We are putting in €77 billion. The value of the loans is less than €37 billion. We are told we need to spend a huge amount of taxpayers’ money to provide a functioning bank service. The bank system is not functioning. Loans are not being provided to productive businesses. People who want to switch their mortgages are forbidden from doing so. We really need to examine taking a lower amount of €40 billion to write down the bondholders by €20 billion and put in a capital injection of €20 billion. Then one may find oneself in the same current NAMA position on which we are spending so much money. It is important to discuss these vital matters in the House.