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

Okay. When Mr. Trichet was, as I say, at the IIEA event in which the inquiry engaged with him, speaking on the same issue, he says:

[As] you know, we could [have almost] continued on our side ... having gone up to 100% of ... GDP ... to 200% of ... GDP [this was with regard to the ELA funding that was coming into the country], and why not 300% of ... GDP? [That would] Then what would ... the commission [of] inquiry [be] asking for? [Talking about this inquiry, as to what would be our purpose] You would say, "Were you totally crazy at the ECB to continue, when you were going to the wall at 100 mph, to continue to provide liquidity and liquidity and liquidity?"

So could I ask you, Ms Nolan, was Mr. Trichet right? If this action hadn't happened and entry into the programme had been delayed, would the cost of the bailout have even been bigger for Ireland?