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Is the money gone?

Posted on June 22, 2010 at 07:12 PM

"Is the money gone" Eamon Gilmore TD, Leader of the Labour Party, asked the Taoiseach this afternoon during Leaders' Questions. Eamon was referring to comments by the Chief Executive of Anglo Irish Bank who told a Dáil committee last week that most of the €22 billion of taxpayers' money paid into the bank will not be seen again.

Eamon pressed the Taoiseach about the comments adding that he was interested in proposals costing €5.5 billion put forward by IBEC, ICTU and the Construction Industry Council aimed at getting the 140,000 building workers who have lost their jobs back to work. Eamon added the €22 billion paid to Anglo would have funded those proposals for 4 years.

"€22 billion would build the metro and on top of that it would build the 400 schools that are on the Department of Education's list, it would build the hospitals and there would be money left over to do a lot more than that.

"Is the Chief Executive of Anglo Irish Bank right or wrong? Is it the case that the lion's share of the money will as he put it, never be seen again, is the money gone?

You can see Eamon's full contribution on the accompanying video while the entire debate will be available on the Oireachtas website.

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