Brian Cowen (Laois-Offaly, Fianna Fail)

The decision to nationalise Anglo Irish Bank was a last resort for protecting both customers of Anglo Irish Bank, who were substantial employers in all sections of the economy, and also for ensuring that the remainder of the Irish financial system could access the funding that provides credit to all businesses, including our small and medium-sized enterprises.

Anglo Irish Bank's business customers are in all sectors of our economy, supporting jobs in tourism, retail, commercial and small and medium-sized enterprises. This is the first injection of capital into Anglo Irish Bank and will need EU clearance. That is the position.

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