Billy Kelleher (Cork North Central, Fianna Fail)

Anglo Irish Bank was nationalised for the specific reason that it was of systemic importance and failure to nationalise it would have had a knock on effect on the other financial institutions.

The Government then capitalised Bank of Ireland and Allied Irish Banks and took equity in both banks. This was the first step in ensuring the stability of these two banks which are of systemic importance to the economy and flow of credit.