Paul Murphy (Dublin South West, Anti-Austerity Alliance) | Oireachtas source

The consequences of the privatisation or part-privatisation of AIB are clear. There would be a loss of public funds that were invested and the money that goes back would just go straight off the debt. There would also be a loss of potential control of a bank, which instead of being an instrument for profit could be an instrument for the benefit of society. In addition, there would be a loss of service for customers. Half of the branches in the North, totalling 15, have been closed. Most important, some people could lose their homes in advance of the privatisation happening because of the likes of Cerberus getting involved. I understand the Minister's ideological commitment to private ownership of the banking system but, given those consequences, does he not agree that the Dáil should debate this matter? If the Government wants to propose the sale of AIB, the Dáil should have a right to decide on the matter by vote.

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