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

I wish to clarify one issue regarding the net cost of the banking crisis in terms of direct State support. Professor Honohan gives a figure of €40 billion for it, which is quite different from what the Government is indicating. The indications are that all of the moneys put into the surviving banks will eventually be recouped, which would leave a bill of between €30 billion and €35 billion for Anglo Irish Bank and INBS. Can the witness account for his figure of €40 billion?