Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I will answer the question if the Deputy lets me finish. We put €4 billion into the Bank of Ireland; we got back €6 billion. We still own 14% or 15% of that. We own 99% of AIB. Which is the better option? Is it to hold that in the knowledge that we have made a profit for the taxpayer from Bank of Ireland already and we still own that element of it? What do we do with AIB? How do we determine its value? What should we do over a period? Would we get back more for the taxpayer than if we applied for direct recapitalisation? On the latter question, if we do apply, and if we get full consent from all the governors - unanimous agreement - and we get X amount back for the Irish taxpayer, what would we do if we were to suddenly find that the value of what we hold in AIB is vastly greater? The Government has to make a choice here in the interests of the taxpayer. What is the best thing to do? What is the best option? As the Minister for Finance has pointed out, Government will consider and reflect on this very carefully.

We have options. We had no option before because the thing was completely defunct and had to be restructured. The Deputy will recall all the questions he asked here week after week, such as whether we were going to borrow €3 billion to pay the interest in Anglo Irish Bank. That crowd on the opposite side of the House put €34 billion into Anglo Irish Bank and we will never get it back. At least we have a chance with the options we now have for the taxpayer.

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