Brian Cowen (Laois-Offaly, Fianna Fail)

We have to make that decision strategically, and we are doing it.

On the banking situation, which is fundamental as a strategy in terms of bringing about the prospect of economic recovery, we are continuing our engagement with the banks. We swiftly introduced a banking guarantee which meant we did not have the calamitous situation of a collapse in our banking system. We continue to strive to ensure we have an appropriate banking system and we are determined, if there is State investment in the sector, that the taxpayer will get a good deal and liquidity will flow to business. We are asking the private sector to make its contribution in this respect also.

It was suggested some weeks ago that we should go on behalf of the taxpayer and borrow in full for such a recapitalisation, not as a last resort but as a first option. We must take into account the demands on current and future taxpayers in terms of borrowing. It is only fair to say, as I have indicated already, that the Government and I are in the process of bringing forward further ideas, strategies, options and initiatives that will accentuate the positive in respect of our economy.

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