Joan Burton (Dublin West, Labour)

While I do not want to take issue, that is not what I or the markets understand. We understand that the accounts to 31 December are in preparation at present and should be ready for issuance very soon.

I understood from recent statements by the Taoiseach that he is anticipating the Government will make a major announcement on recapitalisation of the banks after the St. Patrick's Day travels and the Cabinet reshuffle. I understand the recapitalisation statement may come sometime around the end of March or the beginning of April. Is a broad framework date set for the recapitalisation? If the required minimum capital level being indicated is 8%, although many observers talk about 10% capital levels and above, does the Minister know when the European Commission will publish its decision on the viability of Anglo Irish Bank and its business plan? Does the Minister believe Anglo Irish Bank has a future as a business bank or as an SME? At present, it is a zombie bank which is not doing any lending. It seems the level of the State investment required is extraordinary for no outcome.

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