Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

That was the way it was done. I can't recall whether there was a discussion on burden-sharing or not. Our policy position was clear. We had said all the time that we believed that not only subordinated bonds should be haircut but the senior bonds should also be involved in burden-sharing, provided that the Central Bank agreed with our position. But nobody said you shouldn't follow that policy line.