Eamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

The last initial public offering for the sale of a quarter of Allied Irish Banks was at a price of €4.50 per share. This morning AIB shares were selling at €3.79. That must make it difficult for the State to consider selling on any further stake, given that the revenue would be far lower than previously and the Government would be undermining the shareholders who have already bought in.

The bank has lost its chief executive, unfortunately, or the chief operating officer and is in a difficult environment, as the head of the European Central Bank, Mr. Draghi, said when he came to the House. He said the banking model is changing.

I am keen to find out the Government's latest plans with regard to AIB. Will the Government consider converting the bank into a public bank along the Sparkassen model? It could be involved in revitalising small business lending throughout the island. That would be in the good proud tradition of that bank and its constituent banks, going back to the days of Munster and Leinster Bank and beyond. What are the Government plans with AIB given that the share price is so low and the bank does not have a chief executive?

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