Tuesday, 2 July 2013

Questions (93)

Joe Higgins

Question:

93. Deputy Joe Higgins asked the Minister for Finance following the release of recordings of senior Anglo Irish Bank executives, his views on the apparent deception by Anglo Irish Bank on the level of recapitalisation required; and if he will make a statement on the matter. [31894/13]

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Written answers (Question to Finance)

Like every citizen in this country who is working hard to restore the Irish economy I am deeply disturbed by the taped conversations involving Anglo executives in 2008 and dismayed to hear senior banking executives refer to the banking crisis with such arrogance. The Irish taxpayer has grimly endured the austere cost of the Bank recapitalisation and the bank guarantee. They are understandably outraged by these revelations. Irish citizens have suffered greatly as a direct result of the banking crisis and the events which have led to the bank guarantee. The recent revelations will only serve to reinforce the Government’s resolve to move this country back in the right direction by tightening up regulation and enforcing it.

The Government is determined to ensure the public is informed about what happened in Irish Banks and has published the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill which, once enacted, will provide the legal framework for a banking inquiry to be held within the current constitutional parameters.

Question No. 94 answered with Question No. 77.