Richard Bruton (Dublin North Central, Fine Gael)

I thank the Minister for his helpful reply. Why did the Minister not exercise his rights to take ordinary shares, rather than going to the European Commission to try to find a way of getting an exception to its general ban on the payment of dividends? My understanding was that the Minister structured the deal in such a way that in the event of non-payment, he would receive ordinary shares, as the latter would appear to put the taxpayer in a position to gain from a recovery in the banks. Alternatively, is the Minister of the view that he wants the cash? Furthermore, how could general guidelines provide that dividends would be paid to one type of investor, namely, the State while other investors would be excluded from such privilege? Would this not in itself be in breach of state aid by favouring one type of creditor?

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