Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

My next question is related. Of the €32 billion in bonds, €30 billion were secured bonds and €2 billion were unsecured. As I understand it, Mr. McDonagh would be confident of recouping the secured bonds. In the case of the €2 billion subordinated bonds, it is more or less an aim of NAMA to recoup them. In that regard, there would be a concern that NAMA, and ultimately the taxpayer, could take a hit on those €2 billion in bonds. Have we any way of assuring ourselves? To date, unfortunately - I wish it was otherwise - unguaranteed bonds in other quarters were secured and were paid up in full but in this case the liability has the potential to come back on the State and the taxpayer. What guarantees can we get that this liability of €2 billion in unsubordinated bonds will not fall back on the taxpayer?