Joan Burton (Dublin West, Labour)

I thank the Minister for his reply. Before Christmas, he mentioned a figure of €6.4 billion as regards extra money for AIB. Others have suggested the figure will be almost €10 billion. Will he clarify what he now expects the figure to be? What is the State's net loss to date on its so-called investments in AIB? When the Minister introduced the bank guarantee, we were spun a story to the effect that such an investment in the banks would yield good returns. In fact, it has undermined the State disastrously, as the guarantee linked the debt of this and other covered institutions with that of the State. Does the Minister agree this is why the IMF came in to take over the country before Christmas?

How much are the further injections into AIB? Do they amount to €6.4 billion, bringing the total to almost €10 billion? What does the Minister intend to do with the cash balances of the NTMA? Will he take those balances and place them directly into the bank or will he use a mechanism for transferring support to the bank along the lines of promissory notes?

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