Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

I want to look at Professor Kane's work on blanket guarantees. When a government institutes a blanket guarantee I suppose it implies that all the covered institutions that come under it are too big to fail. Hence, the government steps in with the guarantee. At that point, Professor Kane is right in that the institution in question is already too big. When there is a systemic crisis with a number of banks, what is the alternative to a blanket guarantee?