AIB sale and tribunal investigations
Thomas P. Broughan asks about the proposed sale of AIB, Goldman Sachs’s role, and possible investigations or prosecutions arising from tribunal findings. The Tánaiste says Goldman Sachs is advising pro bono, the objective is to recover taxpayers’ investment, and tribunal questions should go to the Justice Minister.
Will the Dáil have an opportunity early this term to discuss the proposed sale of part or all of AIB? Did the Minister, Deputy Noonan, consult the Tánaiste or the Labour Party members of Cabinet about the appointment of Goldman Sachs, given the clear conflict of interest?
With regard to the Tribunals of Inquiry Bill, yesterday the Minister, Deputy Fitzgerald, was not able to tell me whether there are ongoing Garda investigations into the findings of the Flood, Mahon and Moriarty tribunals, or whether the Director of Public Prosecutions will take prosecutions. In recent months there has been an apparent collapse of some of the findings of two of the tribunals. The Tánaiste and I had a strong interest in the establishment of the Flood tribunal and the investigations at that time. Will the Minister, Deputy Fitzgerald, have an opportunity to come to the House and give us a full report on what is happening with regard to the Flood and Mahon tribunals and the serious findings made against various people?
Comment on this
To answer the Deputy's first query on AIB, the objective is to have a bank functioning to provide credit and savings deposits, to get a proper functioning banking system back on its feet, and to get a return on any and all State money invested in the bank. When we came into office we inherited a bank guarantee-----
Comment on this
-----and further funding was put into AIB. It is the objective of the Labour Party and Fine Gael to recover this money for the taxpayer. I am happy to say we are well on the way to doing this, but it will take quite a significant period, I would have thought, before it is finalised. In understand Goldman Sachs is working in an advisory capacity on a pro bono basis. It is simply a scoping exercise at the beginning of a process in which we hope to see significant funds being returned over a period to taxpayers and citizens. This is a good thing and is important.