Brian Lenihan Jnr (Dublin West, Fianna Fail)

I will answer the Deputy's question. We are seeking EU approval for this. If it is forthcoming in the next few weeks we will be in a position to bring the scheme to the House immediately. If there are further technical issues to be worked out, it will have to wait until later in the year. It is not related to NAMA. It is a separate item in the guarantee picture.

Regarding the stabilisation of the banks, we are examining a policy that guarantees the banks, capitalises the institutions, ensures that the balance sheets are cleaned up and then ensures appropriate restructuring takes place in the banks. All these items are related, but as far as this item is concerned, it relates to the guarantee itself. A defect in our original guarantee means it will lapse on that date in September 2010. There is no necessary relationship between NAMA and this particular proposal. This is a proposal to put our banks in the same position as every other bank in the European Union.

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