Brian Lenihan Jnr (Dublin West, Fianna Fail)

He may not have seen it but let us be clear. The Deputy's first question was whether the Government obtained independent advice about these matters. That is an important question. The Government had retained Rothschilds as independent commercial advisers in all these matters. The Government also has the NTMA to advise it on these matters. The Government established an independent statutory body, NAMA, to give a good, honest valuation of the loan book, which we obtained. There were many who argued - the Deputy was not among them, in fairness - that we should simply split each bank in two and let each bank decide the value of its defaulting loan book. We did not do that, and I am not suggesting the Deputy urged it by the way but quite a number of commentators in the NAMA debate did suggest it.

Let us be clear. The Government has independent advice. I am open to suggestions from all parties as to the way the cost can be minimised but it is important that we recognise that the bank must formulate a plan with which I do not interfere. At that stage, I assess and express my views on the plan and engage on it with the Commission. The Central Bank, Financial Regulator and National Treasury Management Agency, NTMA, are available to advise and comment on the plan.

Deputy Bruton's final point relates to Anglo being a going concern, which is important in terms of access to funding for Anglo Irish Bank. This remains the position until final definition is brought to the future of Anglo Irish Bank through approval of an EU restructuring plan. On the restructuring plan, I made clear in the Statements on Banking in the week prior to Easter that I do not see the prospect of an immediate wind-up, which is earnestly desired by large segments of the population, as being of benefit the taxpayer.

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