Brendan Howlin (Wexford, Labour) | Oireachtas source

That is when the indebtedness of the banks was put on the back of the taxpayer. The Taoiseach can grimace as much as he likes but that is the reality. Many regret the decision. As we know, the State was under pressure from the European Central Bank because of potential contagion but the decision was wrong. The Taoiseach confuses it with the recapitalising of the banks that were then in public control. There was no going back on that. We needed to recapitalise the banks or the banking system would have collapsed. The problem now is how to recoup the money. We may have debates about the history but we must ask how we can recoup the people's money? The Taoiseach is stating that we are going to get it back but the Comptroller and Auditor General says otherwise. He says there will be a deficit of €45 billion. I am asking the Taoiseach a very straightforward and simple question. Does he believe all the money invested by the people of Ireland into the banking system should be recouped? The levies should be maintained until the money is recouped. Does the Taoiseach agree that the cap on bankers' pay of €500,000 should remain?

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