Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

The committee will determine what is and is not significant. We appreciate Professor Honohan's work and his flexibility in making himself available to the inquiry. That is not contested. On page 138 of Professor Honohan's report, he stated that on the night of the bank guarantee, nobody in the room knew how bad things were. Regardless of whether it was before capital or after capital, if there was any suggestion that €8.5 billion of capital was going to be wiped out in Anglo Irish Bank at a time when its annual report, which has a reporting date of the end of September 2008, said its core tier capital was just over €5 billion, then in Professor Honohan's words in response to Deputy O'Donnell, there was a solvency issue if this was the case. Therefore, is it not the case that the Minister for Finance, the Taoiseach and the Financial Regulator, who were at the meeting when the note was discussed, would have knowledge that Anglo Irish Bank had more than a liquidity issue, it had a solvency issue?