Taoiseach does not recall if Anglo issue discussed

THE TAOISEACH said he could not recall saying he would look into the refusal by the National Treasury Management Agency (NTMA) to invest in Anglo Irish Bank at a dinner in Dublin shortly before he took over as Taoiseach in 2008.

Brian Cowen was asked by Fine Gael leader Enda Kenny about Seán FitzPatrick’s claim that he had asked “his people” in the bank at the dinner in Heritage House St Stephen’s Green, to brief Mr Cowen on loan perspectives.

“Does he deny he was informed that the NTMA would not invest in the bank and that he undertook to do something about it ?” Mr Kenny asked.

“Regarding the question on whether executives at the meeting in April [2008] outlined some of their positions,” Mr Cowen said, “I am not sure whether it happened”.

He added: “I do not have a written contemporaneous note of what went on. I do not remember every aspect. I am not trying to be opaque.”

Mr Kenny said the Taoiseach had previously stated clearly it was not discussed.

“I am trying to be honest about what I recall and do not recall,” Mr Cowen replied. “Let me be straight with the deputy. I want to be straight with the people, which is more important.”

Mr Kenny repeated that the Taoiseach had previously said there had been no discussion of the details of Anglo Irish Bank.

Mr Cowen replied that whatever was said did not suggest the bank was about to go under.

“I guarantee the House that was not the situation,” he added. “The issues were the nosedive in the commercial property market, which took place in the second half of 2008, and all the corporate governance issues that arose afterwards.” That was not the point anyway, he said.

“The central suggestion here is that, by having this contact, I did things I should not have done, I asked or directed people to do things they should not have done, I did this or I did that. It is not true.”

Insisting he had acted appropriately at all times, the Taoiseach said he had acted in the same way at that meeting as his predecessor would have acted at quarterly meetings he was sure he had attended.

Mr Cowen said he did not believe he had any further social contact with Mr Fitzpatrick other than those outlined.

“I am almost sure that is the case,” he added. “In the job that one does as minister for finance, it would be extraordinary for one to spend one’s time in office without meeting people who run banks during some stage in the course of one’s duties.”

He warned that “an absurd sense of puritanism” should be avoided.

“I want to make it clear again that nothing untoward was done at any time,” he added.

Asked about the telephone call he had received from Mr FitzPatrick, when he was abroad on a St Patrick’s Day trip in 2008, he said he had spoken in advance of it to the Central Bank governor.

“I also spoke to him afterwards,” he added.

“There was a meeting between him and the Financial Regulator the next day in his offices, followed by subsequent meetings.”