Michael McGrath (Cork South Central, Fianna Fail)
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That deals with the core issue and is a policy matter that will have to be taken up.

Mr. MacSharry referred in his opening statement to the liability management exercises that have saved the bank approximately €1.2 billion. Junior bondholders who suffered losses because of such an exercise in IBRC, Irish Bank Resolution Corporation, have taken a successful case in the UK. It has been appealed by IBRC and will be taken in the new year. Is there any threat coming down the tracks to Permanent TSB by bondholders who have suffered similar losses?