Michael Noonan (Limerick East, Fine Gael)

I will come to the default strategy and if the Deputy reads the Minister's speech he would see to where he has moved; the Deputy probably missed that part of it.

The Government has never explained adequately in this House why it decided to take over Anglo Irish Bank lock, stock and barrel. It has been alleged that there was close social contact between the Taoiseach and the principals of the bank and that has been advanced as a reason. Regardless of whether that is a true allegation, it is hardly a credible reason, but the Government has yet to explain its actions.

Some months ago The New York Times ran the headline: "Can One Bank Bring Down a Country?" What is the answer this morning?

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