Peter Mathews (Dublin South, Fine Gael) | Oireachtas source

Acknowledging the point about directors' duties and public interest, I would ask Mr. MacSharry to report in conversation with the Minister, after carrying out a robust exercise across the loan book, on what update provisions would be needed to meet the collectability of the debts. It should not be a case of waiting on the never never. It should be realistic and get an idea of the new capital requirement and he should ask that the Minister would put the case to the euro system that we need further capital for that bank to do the very things that Deputy Higgins mentioned, to get the indigenous economy going again with money in households and businesses. There are plenty of businesses with legacy debts that are smothering their otherwise viable activities. There is a mountain of debt write-down needed at euro system level in two forms, namely, IBRC and the promissory notes should be torn up and the ELA should be cancelled. A total approaching €30 billion is needed for the survivor banks.