Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

You see, I could understand the logic of a tracker from a bank's point of view if the cost of funds from the ECB was the full measure of the bank's cost of funds but, of course, it wasn't; it was only a small proportion of your funding mix and yet you tied the price that you could ultimately charge the consumer to what was only a small proportion of your funding mix, which ... What was the logic?