We use Google Analytics to see which pages are read and how the site is used, so we know what to improve. This only runs if you accept. See our privacy notice for details.

Dáil
‹ Leaders’ Questions.

Anglo Irish Bank and NAMA policy

Summary

Kenny urged the Government to invest in economic stimulus or split Anglo Irish Bank into good and bad banks rather than commit billions to it. The Taoiseach defended NAMA and the Government’s banking strategy as necessary to restore funding, while opponents disputed its effectiveness.

Fianna Fáil has forced the Green Party to adopt its economic strategy of cutting wages and writing blank cheques for banks. I understand that the Government proposes to invest up to €6 billion of taxpayers' money in the dead bank that is Anglo Irish Bank to pay off bond speculators and investors. There is an alternative. The Government can put that money into a stimulus package or it can break up Anglo Irish Bank into a good bank-bad bank, a concept put forward by Fine Gael more than 12 months ago.

Comment on this

Pay the €64 million in deposits.

Comment on this

This would save the taxpayer serious money and would allow credit to flow to businesses——

Comment on this

Ask the taxpayer to put in the €64 million.

Comment on this

——in County Meath and elsewhere where jobs as being lost even as we speak.

Comment on this

What about roads?

Comment on this

The Fine Gael Party has put forward a serious policy framework for job creation and security and new careers. The Taoiseach will not recognise this because he is locked into the tribal strait jacket of Fianna Fáil.

Comment on this
Deputies

Hear, hear.

Comment on this

From where did Deputy Kenny get that line?

Comment on this

Is the Government prepared to break up Anglo Irish Bank, save the taxpayer money and provide a bad bank-good bank, the concept put forward by Fine Gael more than 12 months ago?

Comment on this

Come out with your hands up.

Comment on this

It is never too late to clear the plate.

Comment on this
Seamus Kirk An Ceann Comhairle Fianna Fáil

I call the Taoiseach.

Comment on this

The extraordinary basis for Fine Gael's economic policy is that its wishes, primarily, to raise bonds to fund all of these jobs of which Deputy Kenny speaks while at the same time default on bond holders. That is its idea of how one raises bonds. Fine Gael has as much understanding of——

Comment on this

Answer the question.

Comment on this
Seamus Kirk An Ceann Comhairle Fianna Fáil

Deputy Creed, please allow the Taoiseach to continue without interruption.

Comment on this

On the whole question of the establishment of NAMA and it becoming operational, the purpose of this is to ensure we have access to funding and that we can reduce the cost of funding——

Comment on this

——to banks so that they can provide funds to the wider economy.

Comment on this

They are not doing it.

Comment on this
Seamus Kirk An Ceann Comhairle Fianna Fáil

The Taoiseach, without interruption please.

Comment on this

The Fine Gael Party has not supported——

Comment on this

Never mind Fine Gael, talk about Fianna Fáil.

Comment on this

——one tough decision taken by this Government in the past 12 months.

Comment on this

They are opposed to everything.

Comment on this
Seamus Kirk An Ceann Comhairle Fianna Fáil

I call Deputy Gilmore.

Comment on this
Seamus Kirk An Ceann Comhairle Fianna Fáil

Deputy Gilmore without interruption please.

Comment on this

The Government got its answer.

Comment on this

What about the Minister for Transport, Deputy Dempsey, and the roads?

Comment on this