Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

That may be the fact but the reality is that the Oireachtas passed legislation which allowed for PIAs. If a bank is saying it is going to torpedo every proposal that recommends a secured debt write-down, there is a serious issue. Debtors may have the option of bankruptcy, and we will discuss that shortly, but we have heard the chief executive officer of a bank that has been saved by the Irish people - a person who is CEO only because the Irish people saved it - say that it has decided to torpedo the legislation that this Oireachtas has passed. My problem is that the ISI either believes Mr. Boucher is bluffing to this committee and is not serious in what he said or the ISI is going to sit back and allow that to happen.