Paddy Burke (Fine Gael)

The Minister for Finance places great confidence in the Governor of the Central Bank, the Financial Regulator and the National Treasury Management Agency. Not for the first time, the National Treasury Management Agency has lost a lot of money in the pensions fund. It lost money a number of years ago and has done so again in the past two years.

Shareholders buying shares in various institutions or banks do so at their own risk. They know the responsibilities taken on and that they can lose everything. The National Treasury Management Agency is acting on behalf of the people of this country and it has failed them and their pensions. Its people did not carry out due diligence with many of the shares bought on behalf of the people and their agencies. If the Minister of State makes a response, he should indicate how much money has been lost from pensions in 2007 and 2008.