Seanad debates
Thursday, 5 March 2009
Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage
4:00 pm
Martin Mansergh (Tipperary South, Fianna Fail)
I have set out already what recapitalisation involves. Senator Burke referred to Anglo Irish Bank as our bank. Anglo Irish Bank is a semi-State bank which is run at arm's length on a commercial basis. It is not an instrument of Government that operates according to different rules from other banks. Anglo Irish Bank will bring before Government a business plan outlining its proposals on lending into the future. Obviously, these will need to be consistent with what we are expecting other banks to do.
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