Brian Lenihan Jnr (Dublin West, Fianna Fail)

I will mention something about the Government's approach to Anglo Irish Bank. What occurred in terms of its lending practices and corporate governance was a disgrace. Nobody in the House is more angry than I am about the events that took place at the bank. Let me reassure the House that every step the Government has taken regarding Anglo Irish Bank and the rest of the banking system has been to protect taxpayers and the economy. The Opposition calls for a winding down of the bank, but it ignores the fact that, if the bank is not recapitalised, it can no longer hold a banking licence. Without such a licence, what hope does that institution have of retaining the €50 billion in funding to which Mr. O'Connor referred yesterday, approximately three quarters of which comes from outside the State?

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