Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Just on the face of the figures ... the figures we hope don't lie. Going forward to your own core document, Vol. 2, page 54, Mr. Cardiff, and this is the presentation by Merrill Lynch to the National Treasury Management Agency on 26 September and the top right-hand corner of page 54, "INBS has €11.7 bn of loans ... Writedowns of 30% - 60% results in an impairment of €3.6 bn - €7 bn", which is more or less exactly what Goldman Sachs said and remembering that regulatory capital is €1.8 billion. On the face of those figures, was INBS insolvent?