Kieran O'Donnell (Limerick East, Fine Gael)

I accept that, but my point is critical in the context of Anglo Irish Bank. Subordinated debt will not be guaranteed under the new loan guarantee fund, LGF, scheme. When I raised the matter of Anglo Irish Bank's senior debt during Priority Questions more than one week ago and asked whether it would form part of the new guarantee, the Minister assured me he would examine it. Between Anglo Irish Bank's senior debt and subordinated debt, there is €5.5 billion in taxpayers' money. The bank referred to a figure of €8 billion, €2.5 billion of which will go towards setting up the new bank. The European Commission has significant concerns in this regard. Will the Minister comment briefly on this matter, update me on his review and correspond with me on whatever reviews have occurred?

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