Enda Kenny (Mayo, Fine Gael)

Perhaps the Tánaiste will explain to the House the current Government position in regard to Anglo Irish Bank. The Tánaiste will recall that in January 2008 Fine Gael indicated clearly its view that Anglo Irish Bank should be wound down in an orderly fashion. This has been since then completely resisted by Government as a matter of policy. Fine Gael, which has been the only party to call for a wind-up of that bank, has since January 2008 made clear its position in this regard.

The Minister for Finance, Deputy Lenihan, when addressing the House on 30 March 2010 in regard to banking stated in respect of Anglo Irish Bank that winding up that bank is not and was never a viable option. He went on to point out that an immediate fire sale would cost upwards of €30 billion and that in addition the State would have to fork out a further €70 billion. The Minister further stated that he could not, as Minister for Finance, countenance such a course of action and that winding up the bank is not and was never a viable option. In response yesterday on Question Time to a question from Deputy Bruton the Minister clearly indicated he is now considering a wind-up of Anglo Irish Bank and a break up of that bank into a good and bad bank.

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