Paul Coghlan (Fine Gael)

I appreciate that. I welcome the fact the situation in Allied Irish Banks, a truly systemic bank with branches throughout the State, is being addressed. Sadly, wrong appointments were made. There was never a total clear-out either at board or senior management level. The sad fact is that inside the banks, including AIB, there are people managing the impaired portfolio who were responsible, at least partly, for that reckless lending and could have been involved in the cover-up. In the interests of the taxpayer the Minister needs to get a firm grip on the situation with regard to further appointments, the total clear out of the board and the senior management level. This should have been done before but now it will have to be addressed because it will be nationalisation effectively for quite a while. We must wish it well in the interests of the economy and the State.

I wish to refer to another matter and about which I know Senator Ned O'Sullivan and others also have concerns.