Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The Governor is very welcome. I thank him for attending. The Chairman asked the Governor at the start of the meeting the cost of the bank guarantee and he said in net terms it was in the region of €40 billion. I want to tease that out with him. In his view was it the guarantee itself that cost that or is he referring to the rescue of the banks?