Opposition demands debate on Anglo

THE OPPOSITION warned the Government yesterday that it wants a full Dáil debate next week – before the Easter break – on bank recapitalisation.

On the promised announcement on the proposed recapitalisation of Anglo Irish Bank, Labour leader Eamon Gilmore said: “We are now being told that this announcement will be made some time next week, but no provision has been made for debating it.

“If the Government thinks it can make this announcement some time after Opposition Leaders’ Questions next Wednesday, and then not allow any opportunity to debate it in the House for three weeks, then it is very seriously mistaken.”

Tánaiste Mary Coughlan said that if a decision was made to recapitalise the banks next week, the Government would facilitate time in the House for a debate.

Fine Gael finance spokesman Richard Bruton said he had just read that Minister for Finance Brian Lenihan would announce a recapitalisation package for Anglo Irish Bank next Tuesday.

“It appears that not only will we be buying €35 billion of loans from the bank, but we will also be asking the taxpayer to provide €9 billion for recapitalisation,” he said. “Next week’s Dáil business makes no provision for a debate on this huge decision which has enormous implications for the people of this country.”

Mr Bruton added that the Opposition was demanding, and was entitled to, a debate on the issue next week.