Brian Cowen (Laois-Offaly, Fianna Fail)

The management plan from Anglo Irish Bank, which has been submitted to the European Commission, suggests, in the aftermath of the relevant loans being transferred to NAMA, setting up a self-contained bad bank within Anglo Irish Bank and providing for a new good bank. This plan has already been submitted to the European Commission, but it remains to be seen whether it will be approved. There is ongoing interaction on that. Therefore, this is not a Fine Gael idea. It is an idea that has come from the executive management of the board of Anglo Irish Bank.

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