Tom Barry (Cork East, Fine Gael) | Oireachtas source

I have listened to speakers in this debate and I am astonished at the level of detachment on the part of Fianna Fáil. The Minister met with IBRC and was assured that under the old framework put in place by Fianna Fáil, there was no monetary threshold for any sale of assets. IBRC was mandated to effect an orderly running down of the old Anglo Irish Bank. Wild accusations are being heard tonight because sufficient value was not received. What do Members opposite think is the job of a liquidator? Liquidators wind down institutions usually for less than the value one would expect. People are talking about foreign investors but I do not see any of them jumping up and down. When the Minister saw that Siteserv was being sold, he decided to monitor the situation and to look for a new relationship framework because he wanted to be part of the decision-making. It is a huge improvement and I cannot see why the Minister's anxiety to ensure everything is done properly is regarded as a fault.

It is not right to allow a situation where the Minister would not be briefed. IBRC has fiduciary responsibility and must ensure that its actions are correct and are within the law.

I refer to one of the first Bills enacted by this Government, the white collar crime Bill, which was put in place because of the mess of Anglo Irish Bank. People were trying to dig through the mess created by Fianna Fáil.

The Minister has appointed special liquidators and is confident that they will get to the bottom of the issue. Mr. Justice Iarfhlaith O'Neill is presiding over any conflict of interest that may occur. People will have faith in the fact that this review will be credible and will not cost the country a fortune. However, when that review is completed, the Minister has not ruled out further action, which leaves the door open. We should await the review and judge it on its merits. The Minister has said that this review will be presented to the Joint Committee on Finance, Public Expenditure and Reform, of which I am a member. I am sure we will all have something to say about it.

I advise Members to await the review and the facts of the matter before making charges and wild accusations, as have been made tonight and which are unbelievable. Accusation after accusation has been thrown at the Government in order to make political gain. It cheapens this House and most certainly does not help. People are insinuating that something wrong was done when they have no proof to back it up.

When the Fianna Fáil Government shut down the sugar industry, not one Fianna Fáil member was shouting for a review in that case or asking what went wrong. The closure broke the backbone of where I live. Fianna Fáil is shouting about foreign investors. Why did it not support the people who were making a living in an indigenous industry that it ruined and got rid of?

I refer to the allegations that KPMG cannot do its job and such allegations are a slander on Mr. Justice O'Neill who was appointed to ensure that everyone's role is respected. The House is being used as a platform for allegations. It is a case of let us throw enough mud and see how much sticks. Fianna Fáil is mixing up the liquidation process with mortgage evaluation. I ask the Members opposite to remember we have a terrible mortgage crisis because Fianna Fáil was in government for a long time. I know the party has apologised. However, it should not mix up trying to deal with mortgages with the liquidation process because they are two separate items.

I look forward to this review being presented to the Joint Oireachtas Committee on Finance, Public Expenditure and Reform. At that time, I look forward to us discussing it once more. If all the facts are presented and if the Minister's assurances are correct, there will be no more to say on the matter. Until then I will reserve my judgment.

See this speech in context