Kieran O'Donnell (Fine Gael) | Oireachtas source

I welcome Ms McDonagh and her colleagues. I wish to clarify some points. I realise Ms McDonagh is new to her role but she certainly is not new to the banking world. She was head of retail banking in HSBC in the UK for a number of years. She said earlier that the tracker product was not a viable product for the bank in 2008. That is not the issue at hand. Nobody is questioning whether the product was viable. Our questions are about the contracts that were entered into prior to that date by the banks and were not honoured by the banks. Does she accept that to be the position?