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

Okay. Can you clarify this issue for me in relation to when was the point of no return for the State in terms of guaranteeing the liabilities of the bank? And I ask that question ... you mentioned in your opening statement about the fragility of the guarantee and the potential challenge. Now we know from your statement that the legislation was passed within days of the guarantee being announced and then the scheme was passed in the Dáil about two weeks later, that banks were invited on 22 October to enter the scheme and the order was signed on the 24th. Can you inform us, when was the point where the Government ... where we had moved from a moral obligation to do what the Government announced on the night, to we were legally bound to guarantee Anglo, Nationwide and all of the other banks?