Edward Timmins (Wicklow, Fine Gael)

Ms Mahony has probably answered my second question. I reject her assessment that our Minister for Finance is playing smoke and mirrors. I have spoken to him and his team about this. They are absolutely not. I completely reject that claim. I believe he is as outraged, as are all members of the Government, as anyone on any bench in this House. I completely reject that assessment. Last week, I and others questioned the Central Bank in real detail about the legal position and what possibilities were open to it. It gave us robust answers about why it could not do it. It was not just a matter of refusing. Initially, it indicated the circumstances were changing but then made it absolutely clear that there was no possibility of it acting on the prospectus. Everyone here drilled the Central Bank. We were here until 6.30 p.m. or 7 p.m. last Wednesday. The Central Bank was very clear that its legal position would not allow it to act.