Brian Lenihan Jnr (Dublin West, Fianna Fail)

Deputy Burton casually threw out the suggestion, as she does so often in banking matters, that this is a conspiracy to enrich bank shareholders. That is very wide of the mark. The purpose of this exercise is to clean the balance sheets of the banks so they can be restored as normal entities lending into the economy.

A few moments ago Deputy Burton stated that covered institutions, namely, the Bank of Ireland, Allied Irish Bank, Irish Life & Permanent, Anglo Irish Bank, the Irish Nationwide Building Society and the Educational Building Society are wholly bankrupt. That is a highly irresponsible statement.

See this speech in context