Brian Cowen (Laois-Offaly, Fianna Fail)

There is a purpose to the injection into Anglo Irish Bank of up to €4 billion and any alternative approach would be far more negative for the taxpayer. It is important that we ensure this bank, which is of systemic importance in financial terms to the financial system of the country, is allowed to restructure and to de-leverage. We must ensure we minimise the exposure to the taxpayer. Alternative approaches would greatly increase the exposure to the taxpayer in that respect. On the question of jobs being saved, it is important that we have a viable financial system such that we maintain the 1.8 million jobs in this country. This is in the context of Anglo Irish Bank's future, outlined by the executive chairman, and the need to restructure the bank and reduce its costs internally also.

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