Marie Louise O'Donnell (Independent)

I mentioned the transfer con idea which was really an idea about privatisation, where the banks privatised losses were put on the backs of the public.

I want to thank the Minister of State for being here and to thank Deputy Howlin for his presence earlier. I understand that the licence is for tender but by tender it means that it is for sale for 20 years because if somebody is going to give you some money for it then it is up for some kind of a sale. My argument was about profit, profit, profit for whoever buys it. Profit, profit, profit that is likely to go out of the country because we do not have the money. Hopefully, An Post might have the money but at the moment, as Senator Eamonn Coghlan pointed out, we do not have the money so it is likely that it will go to a foreign bank, a foreign pension fund, a foreign billionaire, a foreign organisation or syndicate to buy it. We are talking about profit, profit, profit for 20 years.