Michael Noonan (Limerick City, Fine Gael)
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They are assertions. We will see, in due course, whether the banks need more capital. If they do, they do. At the current time, I have no evidence that the banks need more capital. They are very well capitalised, in fact they are the best capitalised banks in Europe and were capitalised at 10.5% core tier 1 capital when the norm in Europe is 9%. If we do further stress tests we have been assured by the troika that we will be stress tested at 9%. There is a reasonable cushion.