Brian Lenihan Jnr (Dublin West, Fianna Fail)

That course of action was not an option for the Government. The Government attempted to maintain this institution as a going concern on a capitalised basis with 75% control by the State. That did not command market confidence. In the absence of that measure commanding market confidence and in the possession of information concerning the fragility of its liquidity and corporate governance issues which had arisen, the best course was to recommend to Government the nationalisation of the institution. I have not heard any alternative course advocated on the other side of the House that would have secured the interests of the people, the economy, jobs in the country and the taxpayer to any greater effect.

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