Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Although the Minister has not said so, I take it, because he said there is no policy change, that the intention is still to apply and seek the maximum benefit from the ESM, which I accept will mean handing over our shares in AIB to the ESM.

The Minister said that all options were being pursued. We need a frank and honest debate on this issue. There are at least three options: the ESM option, which is the best option if we can fulfil the promise made in June 2012; the option of selling to the markets, which should be examined and considered; and the option of the State retaining its equity in AIB and ensuring the profits made by AIB as it returns to profitability - we hope its profitability will increase into the future - benefit the State and are used to ensure bank lending to particular sectors as required.

The Minister said that the policy was not to hold onto the State's equity in AIB long-term, but will he at least examine the benefits of our having a State-owned profitable bank and what that would mean for the Irish banking sector and the Exchequer?

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