Enda Kenny (Mayo, Fine Gael)

It is another example of a member of Fianna Fáil never apologising. When the Minister for Finance rang me on the morning of the fateful decision he asked me what Fine Gael's view would be on supporting the banking system. I said the party will always support a banking system because it is the lifeblood of our economy. I would like to know the conditions.

The Taoiseach knew in advance, from Merrill Lynch whom he paid dearly and the former Secretary General of the Department of Finance, that in certain circumstances Anglo Irish Bank was insolvent, yet he went ahead and made the decision to have a blanket guarantee. The Taoiseach misled the public because he knew, as did the Minister for Finance, the real truth of the matter. I do not know whether we will get that in the banking inquiry which will take place.

On 16 January 2009, in reference to Anglo Irish Bank, the Taoiseach said it was in good stead and was solvent. We were told by the Minister for Finance that this would be the cheapest bank rescue plan in the world. We were told that the Irish taxpayer would not be exposed. We were then told it would cost €2 billion, €4 billion, €10 billion, €16 billion, €24 billion and now it is a higher figure. Does the Taoiseach not understand that on the streets and in the homes of this country what the Taoiseach has done, with his Government, has crushed the spirit of the people despite their willingness to work and create initiative? The Government has crushed their spirit because it has no plan or clear agenda and it does not know where it is headed.

In light of what has happened and what is about to happen, can I take from the Taoiseach that in respect of Anglo Irish Bank, whose unfinished building stands as an iconic failure to a cancer in Irish economics on the docks, the figure he will announce tomorrow on behalf of the Government will be the last time that he will come before this House to look for Irish taxpayers' money to get it and other banks off the backs of the Irish taxpayers? Can the Taoiseach tell them this will be the last time he will come here looking for their money to bail them out?

He started with a policy of no cost to the Irish taxpayer and has ended up with an unknown quantity of possibly €30 billion or higher.

See this speech in context