Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

The lead up to that, if NAMA had not been established, and if the haircuts weren't double what they were expected to be in NAMA, was NAMA the lightening rod for the international markets to look in and say, "Ireland as a country cannot afford to bail out the banks to the level that it's expected to be bailing them out."? It made our bond yields go through the roof and it precipitated us going into a bailout. And, in that context, if NAMA was not established, could we have avoided a bailout?