A comment by Taoiseach Micheál Martin that the banks "were not bailed out" has been criticised by the Opposition.

Mr Martin said that "shareholders in the banks were not bailed out, the State took equity."

He made the remarks in the Dáil to Solidarity-People Before Profit TD Richard Boyd Barrett, adding that "it was not a popular thing to say but it was the facts".

Six Irish-owned financial institutions received capital injections of €64 billion from the public purse.

These were: Anglo Irish Bank, Irish Nationwide, EBS, Permanent TSB, AIB and Bank of Ireland.

Anglo and Irish Nationwide were liquidated and EBS was taken over by AIB.

The State still owns shares in AIB, Bank of Ireland and Permanent TSB.

However, these are far below the €64 billion capital invested by the taxpayer despite the State receiving dividends, selling almost 30% of AIB and off-loading Irish Life which was owned by Permanent TSB.

Members of the public and institutional investors who held bank shares were wiped out or still own shares which are worth a fraction of their original value.

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