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Ministers 'shocked and sickened' by tapes of exec singing

TANAISTE Eamon Gilmore has admitted that hearing Anglo Irish Bank boss David Drumm giggling while a leading Anglo executive sang 'Deutschland Uber Alles' has made the Government's work more difficult.

A recorded conversation between Drumm, Chief Executive of Anglo Irish Bank, and John Bowe, Director of Capital Markets at Anglo Irish Bank, on October 2, 2008 reveals the casual attitude from leading Anglo bankers as the country tried to come to terms with the bank's State guarantee.

This morning Mr Gilmore, speaking on RTE, said the latest revelations are "really shocking".

Regarding the German singing by John Bowe, the Tanaiste said: "It makes our work more difficult."

"We have been dealing with the consequences of that bank guarantee – trying to clear up the mess, renegotiate the terms, all of the different loan agreements that were made," Mr Gilmore said.

"What has come out in these tapes doesn't make our job any easier. It makes it more difficult – yes of course it does."

Public Expenditure Minister, Brendan Howlin said he is "personally sickened" by the tapes.

"I think they underscore an attitude that is unbelievable – there is no sense of the incredible damage done to this country and the ones today (the latest tape revealed) were after the (bank) guarantee.

"People at the heart of these decisions, obviously, knew the scale of what was going to be burned up in this debacle," Mr Howlin said.

"I think we should spend the summer getting all the detail in place, getting the scoping done and all the regulations in place so we can robustly embark on a proper enquiry early in the next Dail term which would mean the ability to summon people and to take evidence under oath.

"Part of putting all of this behind us . . . will be holding those to account. The people of Ireland will want nothing less," he said.