David Cullinane (Waterford, Sinn Fein) | Oireachtas source

My point is we had a rainy day fund before. That rainy day fund was meant to ensure that if there was an economic downturn of if there was any economic turbulence we would have some money to invest or even to tap into to be able to pay for day-to-day spending if there was a shortfall, but certainly it was more of an investment. That did not happen. It did rain. The economy crashed and the money went to recapitalise the banks.