Enda Kenny (Mayo, Fine Gael)

They were not forewarned of his comment because his comment was consistent with what has been the position of Government: the bondholders in Anglo Irish Bank are in different circumstances to those in Allied Irish Banks and Bank of Ireland. Those in the ECB made it clear on the day of the publication of the stress tests of the Irish banks that, irrespective of a potential downgrading by the ratings agencies, they would continue to guarantee liquidity into the Irish banking system. In the context of where Ireland finds itself at the moment this is a demonstration that the bailout facility can work and that where a country is capable of making the changes, challenging though these may be for its people and economy, it can head in the right direction toward being in charge of its economic affairs again. From this perspective the Minister, Deputy Noonan, has pointed out the consistent Government view of the different circumstances that apply to senior bondholders in Anglo Irish Bank.

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