Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

My last question is on the issue of the banking union. It seems that the whole plan of the banking union has now untangled. It has fallen at the first hurdle. We had this great promise from the European Union that taxpayers' money would not be used in rescuing the banks. The first challenge to the European Union on that was in Italy and lo and behold, MPS, a bank in Italy, has been sanctioned by the Commission to use public funds in a rescue of that bank. It sets a new expectation in the markets that other countries may follow suit.