Enda Kenny (Mayo, Fine Gael)

Today saw the publication of the worst ever results from Allied Irish Banks with losses of €3.5 billion. When the guarantee scheme went though the House, the Minister for Finance said that we were now deeply embedded in the banking sector. Conditions were laid out for recapitalisation and what its consequences might be. It is coincidental that the amount of recapitalisation put in by the Irish taxpayer is also €3.5 billion. In the intervening period we have had no credit being loaned, no return for the taxpayer and no dividend.

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