Brian Cowen (Laois-Offaly, Fianna Fail)

It was not right. It provided the means by which access to liquidity could be provided to the Irish banks at a time, six weeks ago, when a real problem existed and continues to exist. The issue before us this afternoon is Allied Irish Bank loans. We are continuing to work with the banks to ensure that if they can get access to such loans they do so.

Access to capital, private or otherwise, is a continuing concern for banks. It is not correct to say that the Government is stepping back from the situation. The Government is at an advanced stage in respect of all of these matters, which are commercially sensitive. I am constrained in what I can say in regard to these matters at this particular time other than to say that the Government is seized of this issue in every respect and is considering all options in seeking to find a solution that will ensure lines of credit remain available to Irish business going forward.

To suggest that the recapitalisation of the banks is the solution to that problem is not to see the full picture. Business plans for the future are the best means, in practical terms, of doing this.

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