Joan Burton (Dublin West, Labour)

The Bill contains extensive references to the Central Bank and the Financial Services Authority of Ireland, two of the institutions the Labour Party proposes should be subject to freedom of information legislation. This country is guaranteeing debt to an unbelievable extent, at least €440 billion, with the guarantee of last September. We do not yet have a complete analysis of the composition of the guarantee other than knowing the names of the institutions it covers. The Minister announced in the budget that between €80 billion and €90 billion of impaired loans would be transferred to NAMA at an unknown cost to the taxpayer but which stockbrokers suggest would be transferred at a discount of only 20%.

See this speech in context