John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

This is my final question on NAMA. It was widely said in 2009 that it would provide banks with additional collateral that could be used to borrow from the ECB. Given that excessive borrowing from the ECB played a key role in triggering Ireland's bailout, what is Dr. Bacon's assessment of the 2009 solution, which related to liquidity problems as opposed to assessing the size of the solvency problems?