Brian Cowen (Laois-Offaly, Fianna Fail)

It is important to point out the NAMA legislation and the changes in banking generally are to effect orderly restructuring of the banking and financial system over time. Instead of speaking continually about stumping up money for the banking system, one should note an investment is being made by the taxpayer in a shareholding in two of our main banks and by way of having to nationalise another. We get paid for the cost of giving the guarantee and also in respect of the preference shareholding we have taken in the two main banks. That is important to point out.

With regard to the question on specific changes in specific banks, there have been changes in a number of banks. Discussions between the chairman of the board of AIB and the Minister for Finance in respect of seeking a prospective successor to Mr. Eugene Sheehy, who announced his intention to retire, are ongoing. We seek to achieve what is best for the banking system generally.

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