FitzPatrick contacts - We need a prompt explanation

Questions must be asked about the disclosure that, as minister for finance, Brian Cowen had an extended telephone conversation with Seán FitzPatrick of Anglo Irish Bank around the time that the bank’s shares collapsed in March 2008, and that after becoming Taoiseach they had further contacts in the months leading up to the introduction of the bank guarantee in September.

As Taoiseach in July 2008, Mr Cowen played golf with Mr FitzPatrick at Druids Glen, and had dinner with him afterwards, but the Taoiseach insists that they did not discuss the affairs of Anglo Irish Bank. The state’s rescue of that bank in the following months has become the focus of considerable debate, with many financial authorities suggesting that Anglo Irish Bank should have been allowed to collapse.

Green Party chairman Dan Boyle has stated that his party is concerned about the latest disclosures. He is seeking an explanation. Labour Party’s spokeswoman on finance Joan Burton says that, in view of the position of Anglo Irish Bank at the time, it is “beyond belief” that the Taoiseach had no discussion on the bank’s affairs with Mr FitzPatrick during their July meeting.