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

I think you'll be interested in the way it went after that. I said well, I was still burning bondholders and it was Government ... I had the authority of the Government to do so and he raised the question of the financial services industry in Ireland, and particularly in Dublin, and he suggested that even though he couldn't say categorically, it might not be possible for people in the financial services in Ireland, particularly in Dublin, to finance themselves on the market if they were situated in a country that was in default. So that was reasonable pressure as well. So I don't think he mentioned the bomb going off until the second telephone call. At that stage ... I think at that stage, I said I have to consult with the Taoiseach so the call was discontinued and I informed the Taoiseach of the difficulty of carrying out what was the clear request of the Government but I was exploring the possibility, which was what was in mind. So after some time, I rang him back and I said we were still disposed to burn the bondholders and he said ... he was ... it's hard to know, like ... English isn't his vernacular, you know. He sounded irate but-----