Paul Coghlan (Fine Gael)

I also welcome the developments at Bank of Ireland in the last day or so. We need clarification of that in light of the increased State stakeholding from 16% to 36.5%. Is it intended to appoint further public interest directors? Perhaps some others might be removed because of conflicts of interest.

I welcome the capital requirement situation and the paying back to the State, buying out of the warrant entitlements under the preference shareholding. There have, however, been significant other developments and we have heard nothing about them yet. That is why I welcome that this is a fresh debate on banking instead of a resumption of statements because there are new developments every week, if not daily.

The European Commission has ruled on the curtailment of some of the powers of NAMA, particularly in regard to vesting orders, where other third parties or non-participating institutions are involved. Equally, the context they envisage regarding Revenue might constitute a further infringement of citizens' rights. In addition, no one seems certain about developments in regard to Anglo Irish Bank - at least I cannot obtain hard information on them. However, there is a curtailment. We urgently need clarification in the interests of transparency. We need to be reassured that it is the least expensive option. There are changes-----