Enda Kenny (Mayo, Fine Gael)

We are worse off than we were yesterday. What is at stake is the liquidity and independence of the Irish banking system and our country's finances. Yesterday's news did not do us any good; we are worse off politically and economically than when we asked questions in the House yesterday.

When the Taoiseach was elected, I respected and believed his call that he would work hard and make his decisions in the interests of the Irish public. The Irish public is not being served by what is happening now, nor is Ireland's interest. The Government that the Taoiseach leads has been far too timid about the situation in our financial institutions. The finger can be pointed at the Government for a lack of oversight, real regulation and activity as our country edges ever nearer to further economic depression. The Green Party — whose Ministers are not in the Chamber again this morning — will bleat in the distance for resignations and action, but the posteriors of its Ministers are super glued to their seats at Cabinet.

Yesterday I asked the Taoiseach when he was informed of the transactions between Anglo Irish Bank and Irish Life & Permanent. I asked him if he was aware that any member of the Cabinet in any way encouraged, was associated with, or supported that activity. The Taoiseach did not answer that question. On 29 September, when the Taoiseach discussed the offloading of shares in respect of the Quinn position, was he not aware how this would be financed? Did he ask questions about this? The Taoiseach is aware that section 60 of the Companies Act 1963 makes it illegal to transfer shares in this manner, except in certain circumstances. Does the Taoiseach agree there was a fraud perpetrated on the Irish Stock Exchange?

When did the Taoiseach find out about these transactions? Was any member of his Government in any way associated with this? Why did the Taoiseach not ask questions about how the transaction in respect of Mr. Quinn was to be financed?

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