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

To take up that point that was just made, in the context of the type of guarantee that was put in place, which was a two-year guarantee that brought about a funding cliff for the banks two years afterwards in September 2010, Professor Lane said that the Government ensured solvency. I would not agree with that statement because the fact is that the banks themselves are either solvent or insolvent. That is not determined by the Irish Government standing behind them. That is determined by the balance sheets of the banks. Was there a duty of care on the part of the ECB to ensure that if it was extending ELA funding through the Irish Central Bank, Anglo Irish Bank and the Irish Nationwide Building Society, in particular, were solvent at the time?