Brian Cowen (Laois-Offaly, Fianna Fail)

I will make a general point and then answer the specific questions raised. As everyone knows, a thorough investigation is taking place in Anglo Irish Bank and certain matters which have come to the attention of the authorities are being investigated. People will be aware, therefore, that the meeting referred to in The Sunday Tribune article did not take place until 22 January 2009, that is, after the Government's decision on the nationalisation of Anglo Irish Bank. It seems from the newspaper accounts that this is an allegation based on a newspaper's interpretation of a document that is at least a third hand account of impressions of persons who were supposed to have attended the meeting in question.

The Department of Finance has no role in approving transactions of this kind between banks, much less four months after the fact. When the Department became aware in October, as a result of the initial PwC report on Anglo Irish Bank, that such transactions did exist the matter was immediately drawn to the attention of the Financial Regulator. The simple point I am making is that there are interested persons seeking retrospective approval on matters which were not given the imprimatur by the Department of Finance in any shape or form. I am satisfied of that, knowing the official concerned. Therefore, any effort to deal with this matter other than through the proper investigative channels — based on surmise, interpretation, recollection, or the post-dated memo of 22 January which mentioned something that was alleged to have happened in September — will not be useful. I did not attend the meeting in question; nor do I know of anybody who attended.

Let the investigators deal with the matter, because that is the only way we will get to the truth. It is important that any information that becomes available in the public domain be seen in that context. The only way in which this House can proceed — indeed, the only way in which the law can be pursued — is through the investigative arrangements set down by Acts of the Oireachtas. Every aspect of this matter will be investigated by the people concerned, independently and statutorily, and the true facts will be brought out. I cannot add to that.

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