Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I thank Mr. Carrigan and his colleagues for attending. Much of the subject matter is very technical in nature and I would like to distil for the ordinary taxpayer and citizen how the framework will work in practice. People will want to know if the European-wide supervisory, resolution, recovery and banking union system will prevent a situation similar to the one that arose in September 2008 when four men decided to put in place a blanket guarantee and bank bailout that has cost taxpayers €64 billion. Ultimately, this is about how much it is going to cost taxpayers and deposit holders. Will the proposed measures provide that assurance to the ordinary person looking on today who has been paying for the bank bailout for four years?