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

I say that specifically for this reason: to get the ELA owed by the IBRC written off.

This would mean the promissory notes could be torn up. In the case of AIB - and the Bank of Ireland may be too foggy-headed at the moment to articulate it - it can do it. AIB can articulate that for the triangle of banks - the two big remaining banks and Permanent TSB as a smaller add-on - to get the indigenous national economy going. There will be a need to write off debts for households and businesses which are otherwise viable but are smothered in legacy debt which weighs down their existing good businesses. This would enable them to get off the ground.

In addition, the insolvency legislation will put a line through this matter of the banks having a veto on insolvency. That is like trying to sail a boat with the anchor down. It is just silly.