Eamon Gilmore (Dún Laoghaire, Labour)

Deputy Kenny has quite rightly described the decision to give the blanket guarantee to the banks two years ago today as the worst decision that was ever made. It was, of course, a decision to write a blank cheque for the banks and later today the Government will come into the House and ask us to extend that guarantee and, in effect, write another blank cheque. The problem is that we do not yet know what was the size of the blank cheque that was written the last time.

The Taoiseach told us on the day of the guarantee exactly two years ago that it was not going to cost the taxpayers anything. Within three months the Minister for Finance was telling us that €1.5 billion had to be found for Anglo Irish Bank. On 15 January 2009 he announced the nationalisation of Anglo Irish Bank. On 29 May 2009 he announced a further €2.5 billion for Anglo Irish Bank. On 30 March 2010 another €8.3 billion was allocated for Anglo Irish Bank. There was another €10 billion after that. By 10 August this year the total figure had reached €24 billion for Anglo Irish Bank. On 8 September he told us that he did not know the final figure yet but that we would eventually be told it in September or October by the Financial Regulator. I understand that we are to be told that figure tomorrow, the day after this House is asked to extend the guarantee. We are being asked to write another blank cheque this evening and tomorrow we will find out the details of the last blank cheque which will be filled in.

I have two questions for the Taoiseach. Does he know the final figure for Anglo Irish Bank which will be announced tomorrow? If he does know it, will he tell us now what it is?

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