Stephen Donnelly (Wicklow, Independent)

In the Minister's prepared statement, the two arguments he gave from Mr. Trichet were ones that he himself dismissed when in Opposition. He absolutely dismissed them. I agree with his previous analysis and I do not accept Mr. Trichet's analysis. I do not accept that there is a significant risk of contagion from not paying bonds such as the one today. I simply think he is talking nonsense, and the Minister himself said exactly the same thing in this House when he was sitting in Opposition less than a year ago.

My question is about the emergency liquidity assistance. The Minister is saying that no threats were made. Actually, the threat is the collapse of the IMF agreement. I think he said that no threats were made on the interest rate.

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