Joan Burton (Dublin West, Labour)

This is a simple amendment concerning accountability. I strongly commend the amendment to the House so that the annual report will be of assistance to the Minister, his officials, the National Pensions Reserve Fund and the National Treasury Management Agency to get some sense of the purpose of the rescue of these banks. It is not about the banks, it is about rescuing credit and sustaining employment. If they do not have to report to this House that objective will float away because they will concentrate exclusively on de-leveraging and rebuilding their capital and clever people will be waiting to buy up shares. In two or three years time, when the taxpayer has taken the pain, they will be ready to pounce.

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