Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

And if members can rely upon the core documents that we have where we spent months of researching them rather than going down to the library to pick up something that might be a thriller and might help us in our final report as well. What I want to focus in upon, particularly with the question that Senator D'Arcy put to you, is there is a document up on the screen there and it's a statement by Minister for Finance, Brian Lenihan TD, on the EU-IMF programme for Ireland and the national recovery plan and on the end of that statement it says:

There has been much commentary about the need for senior bondholders to accept their share of the burden of this crisis. I certainly raised this matter in the course of ... negotiations and the unanimous view of the ECB and the Commission was and is that no Programme would be possible if it were intended by us to ... honour senior debt. The strongly held belief among our European partners is that any move to impose burden sharing on this group of investors would have an enormous ripple effect throughout the Euro system. [And then he referenced yourself.] That was confirmed [to me] by Professor Honohan in an interview last Monday when he said there was no enthusiasm in Europe for this course of action.

So, how do we have that incongruence, where there is a view that there might be a potential for burning of bond holders and there is a view here where you're saying in Europe, there is no discourse or discussion about that?