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

Thank you, Chairman. You're welcome to Ireland, Mr. Trichet. As you said in your opening remarks during the lecture, "The ECB indeed does not have any authority to issue instructions to any euro area government or its ministers." So, against that backdrop, can I ask you to identify what article, if any, of the treaty establishing the ECB, provides for the type of direction issued to Brian Lenihan in your letter on 19 November 2010 pertaining to issues that would appear to be outside of your direct mandate in terms of fiscal consolidation, structural reform, etc.? And is it not the case that in that letter the ECB issued a very clear, direct and unambiguous threat to the Irish Government, that if it didn't apply for a bailout the ECB would turn off the life support machine for Irish banks?