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

Okay. Can I ask you, Mr. Boucher, about the issue of subordinated debt being included in the bank guarantee at the end of September, because you make reference to that issue in your opening statement again, towards the bottom of page 8, and you give the clear impression that you were opposed to the inclusion of subordinated debt. Can you elaborate on that and distinguish between dated and undated subordinated debt? You expressed surprise at the inclusion of certain subordinated debt in the guarantee.