Stephen Donnelly (Wicklow, Independent) | Oireachtas source

Am I correct in thinking, if we take Anglo Irish Bank as an example - another Anglo - and its losses were €30 billion, that the first level, which is 8%, would be €240 million and that the next level in the cascade, which is the resolution fund, would be 5%, which would be €150 million? In the case of Anglo Irish Bank, which on a European scale is tiny – it is big by Irish standards – of the €30 billion loss, one still has €29.6 billion left by the time one gets to the ESM. The cascade does not even slow it down.