Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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No. I do not agree. There was a big fight over the €100,000 limit and so on. The bail-in is welcome but it is 8% of liabilities, with the state's 5%. Then we have all the conditions about the extent to which it may threaten the stability of the wider eurozone and the debt sustainability of an individual state. After that bail-in, which is welcome but limited, the next port of call is back to Joe Bloggs on the street and, as I read it, and I would welcome the Minister telling me I am wrong, all the conditions are to stop it getting to the ESM and to put the citizens and the state on the hook big time as the next step in the cascade, with a fairly high threshold to move on to the next stage in the cascade.