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

Professor, the statements at the time, in this House and elsewhere, was that the banks were the most capitalised banks in the world. That the capitalisation of the banks were in the high double digits ... high teens, which was way beyond the regulatory requirement for capitalisation. So, the question is: how could we, you know ... I put it to you, that we did overcapitalise the banks, which eventually turned out to be option 1, which in option 1 in your scenario would've put us in a collision course with the State's solvency.