Brian Cowen (Laois-Offaly, Fianna Fail)

As I have said, as soon as the scheme is available, ready and approved by the Cabinet, it will be brought to the House and subject to the Whips' agreement on when it will be taken. Obviously, people are indicating that they would like to take it as quickly as possible. We are having a discussion and I was asked when I felt it could be taken, and I replied that it will be more than likely next week, based on the fact that the consultations to which I referred on Leaders' Questions are taking place. The Deputy asked what the problem is, but it is not a question of a problem. Many Members opposite took the view that we should extend the guarantee to other banks which have a retail presence here and that doing so should not be regarded as a problem but considered sympathetically. However, issues arise about which we must be satisfied in terms of how we ring-fence the assets that will be available within this jurisdiction and what will be the view of the headquarters or parent group on the assets should anything occur. All these technical issues have to be sorted out. These banks are in a different position from those which are incorporated and headquartered in this country. It is not the same legal situation. We have to cater for and be sure of other considerations.

See this speech in context