Tommy Broughan (Dublin North East, Labour)
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Question 66: To ask the Minister for Finance if he plans to pursue a clawback from a company (details supplied) with regard to the disastrous advice on the blanket bank guarantee; and if he will make a statement on the matter. [10851/11]

Michael Noonan (Limerick City, Fine Gael)
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I understand from previous statements that the principal advisers to the Government on the night of the 29 September 2008 were the official agencies. The company referred to in the Deputy's question was, therefore, assigned the task of consolidating the range of options being developed by all the State agencies in a paper for consideration by the Government. The Deputy may wish to note that the paper actually prepared by the company is now in the public domain - subject to certain redactions of commercially sensitive information having been published as part of the review of the guarantee decision by the Public Accounts Committee.

In overall terms the paper summarises the advantages and disadvantages of the different strategic options available to Government stating that there was no right answer. Indeed as pointed out in Governor Honohan's report on the banking crisis the paper set out arguments against the introduction of a blanket guarantee. In view of the foregoing, I do not believe that any useful purpose would be served by pursuing a legal claim in this case.