Pat Rabbitte (Dublin South West, Labour)

The Deputy is right. There is not much science behind his position, but it summarises his view. He says his view is apocalyptic when it comes to nationalisation.

I cannot agree with his outline of what nationalisation would mean. I would ask Deputy Gogarty this question. We know the least worst position is the Minister's guesstimate that it will cost the taxpayer €7 billion, although outside commentators say it will cost more. The Minister owns 25% preference shares in the two banks already. Would we not be better putting the €7 billion in for additional shares?

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