Billy Kelleher (Cork North Central, Fianna Fail)

I am quite sure that Deputy Stagg is now referring to those people, which is somewhat flippant. The bailout is not a €400 million guarantee as if the money was handed over. It was done to create stability and provide liquidity so that banks could operate in an economy where credit is available to people who want to invest in their small businesses, for house extensions or the purchase of a new house or car. That is the purpose of the bailout. It is not designed to bail out any wealthy bankers. It is about creating an environment in which people can go about normal enterprise, which means occasionally visiting a bank to borrow money and subsequently repaying it. That is the purpose of banking.

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