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Bailing out insolvent bank is economic treason says Gilmore

Posted on January 12, 2011 at 08:14 PM

"If the Taoiseach's Government knew Ango Irish Bank was insolvent and he asked the Irish taxpayer to bail it out and to pay the cost we are now paying for it, that was and is economic treason," the Labour Leader Eamon Gilmore TD told Cowen.

Gilmore made the comments during Leaders' Questions where he quizzed the Taoiseach about contacts he had with Anglo's Seanie Fitzpatrick.

"First, did the Taoiseach discuss the bank's business at the dinner or the golf outing? Second, will he put on the record of the house all of his contacts with Anglo Irish Bank between the beginning of 2008 and the time of its nationalisation?

"Is the bottom line not that the government provided a bail-out, a guarantee, to a bust bank and that the people must now pay for this through reduced incomes and social welfare payments, additional taxes, a loss of business and the economic problem with which they are trying to cope?

You can read the full exchange on the Oireachtas website and view Eamon's contribution in the accompanying video. (Apologies for a technical problem that prevented the end of Eamon's question being recorded.)



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