Dáil debates

Tuesday, 3 November 2009

2:30 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick East, Fine Gael)

Perhaps the language is plainer but the essence of the point is the same. The Minister will effectively get no return. He is now talking about putting another €20 billion into Anglo Irish Bank by way of NAMA, which makes €24 billion of taxpayers' money that will see no return. The EU has been clear in regard to state aid rules. Either this is an orderly wind-down or there should be a proper business plan for restructuring to take place.

Since last May, we have seen no figures in respect of Anglo Irish Bank, which we own - the May figures applied for the period up to 31 March. We have seen the figures up to 30 June for AIB and Irish Life & Permanent, and up to 30 September for Bank of Ireland. The people are entitled to know what is happening with regard to Anglo Irish Bank. The Minister should accept that the bank needs to be wound down in an orderly way, that he cannot get a return for the taxpayer and that he would be putting good money after bad with any further investment in the bank.

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