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

You say in your opening statement, page 4, written one:

However, [this is in relation to the bank bailout etc.] I believe their decision to subsequently force Ireland to avoid imposing losses on bond holders andrequiring Irish taxpayers to then bear the cost was morally indefensible. It was one of the worst examples of a small state being forced to socialise losses (i.e. for the taxpayers to pay the costs) while the private sector gains were protected.

And you also said under the paragraph, "Week of Bank Guarantee", page 16:

The Bank Guarantee decision resulted in Irish citizens having to pay a very high and unjust cost for the banking crisis. Providing a linkage between the sovereign and the liabilities of the financial institutions proved to be a very costly decision.

Mr. Gray, is this by way of recanting from your support and advocacy for a bank guarantee? Because, obviously, the bank guarantee was the origin of why the sovereign and the taxpayer were eventually saddled with this massive debt.