Golden circle unity visible, says Higgins

MEMBERS OF the banking circle had demonstrated significant solidarity with themselves, Labour’s Michael D Higgins told the Dáil.

"It is shameful that the Government refuses to do what is necessary if we are to have public respect and a restoration of trust," he said. Mr Higgins was speaking during the resumed debate on the Financial Emergency Measures in the Public Interest Bill, paving the way for the controversial public sector pension levy. He said that he found it "somewhat cynical that those who chaired the boards of banks can write in The Irish Timestoday about the lean, flexible economy we need to create".

Minister of State for Finance Martin Mansergh said 20 years ago, the State started recovery by putting the national finances straight. Opposition objections to the abrupt halting of the second stage of the Bill, at 10.30pm, were rejected by Taoiseach Brian Cowen on the Order of Business.

“I ask that the urgency of the situation be recognised . . . so that we can send the right signal to international markets about our determination to put the public finances in order.”

Minister for Finance Brian Lenihan said the pension levy would hurt but unemployment was “stalking this country”.

The second stage of the Bill was passed by 77 to 67 votes.