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

Finally, Governor, the euro area summit of 29 June 2012. The political establishment returned from that, by common consent, making very large claims for what was achieved - that it was a seismic result, etc. - in relation to recapitalisation from some European fund, thus replacing Government funding and, therefore, releasing funding for public services, etc. The sentence around which all this turned was, "The Eurogroup will examine the situation of the Irish financial sector with a view to further improving the sustainability of the well-performing adjustment programme". Governor, what did you make of this at the time? Did you accept or were you ... agreed with the type of claims that were made by the Government leaders in relation to what that meant? And is it the case that nothing has come of it?