Eamon Gilmore (Dún Laoghaire, Labour)

The Taoiseach talked about changes being made at the top of the banks. There is little or no evidence for them. Let me outline the position regarding the main covered institutions since the guarantee was introduced. All ten of the directors of AIB who were in place at the time the guarantee was made are still in place. Eleven of the 13 directors of Bank of Ireland who were in place at that time are still in place. With regard to EBS, eight out of 11 directors are still in place and, with regard to Irish Life and Permanent, six out of eight are still in place. That is with the exception of the public interest directors.

There is little or nothing changing at the top of the banking tree. All that is happening is that the State or taxpayer is being asked time and again to put up funds to keep the banks going. At the top of the banking tree, nothing significant is happening.

The Taoiseach stated discussions are ongoing between AIB and the Minister for Finance on the appointment of a chief executive. The State owns a 25% shareholding in that bank. Will there be an internal appointment, as the board of the bank wants to insist upon? Will there be an external appointment, as it would appear the Minister for Finance desires?

Which is the dog and which is the tail in the case of banks? The banks are very quick to come with their hands out seeking assistance. We are to spend much of this week and most of next week dealing with the banks' requirements in terms of the writing down of bad debt but there seems to be no significant change at the top of the banking institutions.

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