Enda Kenny (Mayo, Fine Gael)

We intend to act responsibly regarding this very serious matter in terms of protecting the economy and taxpayers' interests. However, the Taoiseach did not answer my question. In respect of regulatory oversight and increased scrutiny, will the Government appoint personnel to the risk management committees of every bank involved so taxpayers can see those banks which involved themselves in profligate and risky lending will not double their bets guaranteed by them? I want the Taoiseach to answer this question so as to reassure taxpayers that nothing untoward will happen as a consequence of this guarantee.

I made the point that this deal is not without strings attached. What is in this for the taxpayer? What equity will he or she get? Will the Taoiseach say that for the duration of this guarantee there will be no more bonuses, dividends or derivative trading? We do not want a situation where the gains are privatised and the losses are socialised.

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