Taoiseach Brian Cowen today faced questions from Opposition party leaders in the Dáil on the controversy over his contacts with the former chairman of Anglo Irish Bank, Sean FitzPatrick.
The Taoiseach gave a rundown of the sequence of events covering the period under question in the 'FitzPatrick Tapes' book from St Patrick's Day to the golf game in July 2008.
He said he did not have any closer relationship with former Anglo chairman Sean FitzPatrick than he would have had with the chairmen of Ireland's other large banks.
He also repeated that at no time during the golf game was Anglo discussed. He said he had no reason to say otherwise.
The Taoiseach was responding to questions from Fine Gael leader Enda Kenny who asked him if this was the totality of the social and business contacts that Mr Cowen had with Mr Fitzpatrick.
The Taoiseach also revealed today that another director of Anglo Irish Bank joined him for dinner after a game of golf with the bank's then Chairman, Sean FitzPatrick, in July 2008.
Mr Cowen told the Dáil that a number of other guests joined himself, Mr FitzPatrick, and Fintan Drury, including Gary McGann, who the Taoiseach described as chief executive of Smurfit Kappa. At the time, Mr McGann was also a member of the board of Anglo Irish Bank.
Mr Cowen also today mounted a strong defence of the bank guarantee in the Dáil. He said there was a systemic problem and no one institution - Anglo Irish Banks - could be taken out.
He said Ireland was the first country to introduce a guarantee system that was later taken up by other countries. He added that the move avoided a far greater seismic economic shock.
He rejected what he called the politics of smear that were being dressed up in a respectable fashion. Addressing Labour leader Eamon Gilmore directly, he said he was not an economic traitor and said there was no basis in fact for the contention.
In response, Mr Gilmore rejected that he ever made a personal attack on the Taoiseach.
He said if Mr Cowen knew that Anglo was insolvent, then that was economic treason and he would stand over that comment that he made some months ago.
'Exact AIB injection figure not possible'
Earlier the Minister for Finance, Brian Lenihan, said it is not possible to give an exact figure on the amount of fresh capital to be injected into AIB.
Speaking in the Dáil today, Mr Lenihan said the final sum could not be given at this time and that it depended on factors such as subordinated bondholders and preference shares.
In December, €3.7 billion was transferred into the bank from the National Pensions Reserve Fund. The bank must raise a total of €9.8 billion by February to met targets set by the Financial Regulator and the Central Bank.
Brian Lenihan was responding to questions from Labour's Joan Burton about how much more cash the taxpayer would have to pump into AIB. Ms Burton described the blanket guarantee as disastrous.
The Finance Minister also said he would be open and positive to the American model where bond investors would share the burden of any bank collapse. But he added that such a move should be judged on the ability of the institution to raise funds in the future.
Mr Lenihan told the Dáil that while elements of the EU/IMF financial deal could be re-negotiated, the interest rate and the total financial savings to be met could not be.
In the Dáil today, Brian Lenihan said any adjustments must be done in a credible fiscal way.
Michael Noonan said he thought the interest rate attached to the package could be renegotiated at Council of Ministers level or head of state level.
Brian Lenihan also said that his officials are in ongoing contact with their counterparts in the EU and the IMF and confirmed targets set out in the memorandum of understanding are being met.
Labour's Joan Burton asked if information being supplied by Department officials to the IMF and EU should be made available to the Opposition given the fact that the country is now in a 'transition period.'
The Minister said he would consider the matter and said that contingency plans should be put in place for the immediate period following the general election.
