Seanad debates

Wednesday, 31 May 2017

Proposed Sale of AIB Shares: Statements

 

10:30 am

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein) | Oireachtas source

We certainly need to hear the answers to these specific questions. Which advisers have been appointed, on what date, and what fee do they stand to receive after the sale? Will the Minister send that detailed information on to us or will he tell us here today? What safeguards are in place to ensure that there is no conflict of interest between the advisers and the potential buyers? Will the Minister confirm that a change to the fiscal rules would require unanimous approval from all member states of the eurozone? Does he feel that they have an appetite to do that? Why does the Minister support the fiscal rules when it was obvious that they are inimical to any investment agenda? Can the Minister confirm that recurring dividends from AIB could be spent on day-to-day expenditure, at least once an annual pattern has been established? As privatisation unfolds, what guarantees will the Minister seek regarding workers, workers' rights and conditions, bank branches remaining open and services being kept available in rural areas? These are all questions that need to be answered at this time. The fundamental point is that this is a State bank. We should be keeping it in State ownership. We should be giving the profit from it to the Irish citizens who bailed out the banks previously.

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