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

What is Professor Ahearne's view, then, on the characterisation a month later, at the end of September 2008, of the problems within the banks and even in Anglo Irish Bank - we will explore that, obviously, in much more detail - that it was a liquidity issue and not a solvency issue at heart? Does Professor Ahearne think, given the loose talk that was going around at that time, that it was credible that people in authority - the Central Bank, the regulator, the executives of the banks themselves - would have been of the view that it was a liquidity crisis? Is that credible or not credible in Professor Ahearne's view?