Michael D'Arcy (Fine Gael)
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In the spring 2010 quarterly economic commentary review, reference was made to the estimated cost of the recapitalisation of the banks at a figure of €33 billion. The comment in regard to the amount of €33 billion was that "This large addition to the national debt is manageable and in no way threatens the solvency of the State." What is Professor FitzGerald's opinion on that statement with the benefit of five years' hindsight?