Enda Kenny (Mayo, Fine Gael) | Oireachtas source

The option was there and the option is still there. The Government's overall objective regarding the State's investment is to maximise the return for the Irish taxpayer over time. In line with this objective, the Department of Finance has worked with AIB, where €20.8 billion was invested, on reconfiguring the capital structure. The Minister for Finance is working with the banks and the advisers to lay out a path that will see a return of cash to the State from AIB investments over time. This plan was approved by the Single Supervisory Mechanism last November, and following approval at AIB's EGM a first payment of €1.64 billion was made to the State on 17 December. This is only the start of the process, although it is an essential first step on the road to recovering value for the taxpayer.

Regarding the Bank of Ireland investments, Deputy Martin is aware we have already made a net positive cash return from our investment in and our support for the bank, while we continue to hold, on behalf of the people, a valuable equity investment. The position was we had only one option.

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