'Golden circle' investors 'entitled to privacy'

The so-called 'golden circle' of investors embroiled in a €300m loans-for-shares controversy at Anglo Irish Bank are entitled to their privacy, Tánaiste Mary Coughlan claimed today.

Even though no legal action has been brought against the 10 anonymous businessmen over the scandal, Ms Coughlan insisted they still have the right to client-banker confidentiality.

Ms Coughlan said neither the Taoiseach nor the Minister for Finance knew the identities of the mystery investors and they would not be named in Anlgo's annual report, due to be published tomorrow.

"Those names will not be available in the public domain," the Tánaiste said.

Ms Coughlan insisted that a private Anglo Irish Bank dinner which Brian Cowen attended two weeks before he became Taoiseach was part of his normal day to day work.

She also confirmed Anglo's annual report and accounts will be laid before the Oireachtas tomorrow.

The documents, to go live on the internet, are expected to contain comprehensive details of the bank's funding and liquidity status, including all borrowings with other banks, up to September 30 last and also bankers' salaries.

Chairman Donal O'Connor will also make a statement referring to the payments to Irish Life & Permanent, a review of management changes and other issues but it is unlikely to discuss the loans-for-shares scandal.

Opposition parties called for the 10 investors to be named and for Mr Cowen to make a statement on his attendance at the April 24 dinner with Anglo.

"I am not familiar with what is in that report but I have been advised that the names of the 10 persons are not disclosed in it," Ms Coughlan told the Dáil.

"They have not been disclosed to the Taoiseach or the Minister for Finance. It is a matter for the regulator and the regulator is under strict obligation of confidentiality.

"The names were not contained in any report to the minister. As a shareholder, he has no right to this information."

She added: "It would completely undermine the confidence of customers if the minister, as a shareholder, can obtain access to confidential information about customers."

Ms Coughlan insisted again that any wrongdoing exposed will be subject to the full rigours of the laws.

Labour leader Eamon Gilmore called for the Taoiseach to make a statement on the Anglo dinner and answer questions on the issue in the Dáil rather than allow speculation to develop.

Ms Coughlan said: "I think it is inappropriate that aspersions are being cast on the Taoiseach.

"It is a normal day-to-day thing people do (attend dinners) as Taoiseach or Minister for Finance or Cabinet minister."

Sinn Féin's Caoimhghín O' Caolain called for Anglo's annual report to be launched at a public news conference as the bank was now owned by the state.

"Will it be done surreptitiously or will it be done openly?" he asked.

He called for further clarity from the Taoiseach: "The right questions have not been posed and the Taoiseach has been able to avoid responding with the full raft of information that he possesses."