Eamon Gilmore (Dún Laoghaire, Labour)

The Tánaiste describes today's CSO figures, which show jobs are disappearing and emigration has started again, as a "challenge". The people who are challenged are those who have lost their job, for whom the challenge is how they will pay their bills. The people who are challenged are those whose businesses are in trouble and for whom the challenge is how to get credit to keep going and stay in business. The people who are challenged are those who are still at work who are worried now about how much more bad news the Tánaiste and the Government have for them in increased taxation or even pay cuts. At the heart of the challenge, and its cause, was what happened in the banking system, particularly what happened in Anglo Irish Bank. That was the rotten bank at the heart of the whole toxic problem that caused the collapse in our economy.

I have some questions to ask the Tánaiste about Anglo Irish Bank. Last December, we first heard of the practices and scandalous goings on in that bank. Directors paid themselves huge bonuses and organised back-to-back loans that shifted money from one institution to another. Around the same time, Bernie Madoff was arrested in New York. Since then he has been tried, convicted and jailed for 150 years. Unfortunately, since then we have heard very little about anybody being called to book regarding what happened in Anglo Irish Bank. The only thing we heard was that there was a high profile Garda raid last February about which we have heard nothing since. Yesterday we were told about eight directors who have €22 million in loans between them. Over the weekend we also heard speculation that additional money is to be put directly into the bank. I am not talking about NAMA but about recapitalisation money being put into Anglo Irish Bank. This bank has been in State ownership since January.

I wish to know two facts. First, when will we see somebody brought to book for what happened in Anglo? What is happening to the investigations we were told were taking place? When the Labour Party proposed that an inspector be appointed to examine what went on in Anglo Irish Bank the Government rejected this and stated that the matter would be investigated by the Director of Corporate Enforcement and the Garda. What has happened? Where is the report?

Second, how much additional money will the Government put into Anglo Irish Bank? It was mentioned in the Sunday Business Post over the weekend that the figure of €3.8 billion already put in was to be increased to approximately €10 billion. Can the Tánaiste tell the House how much more of the taxpayers' money, which is needed for our schools and hospitals and the services which the public consumes, will be put into Anglo Irish Bank?

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