Professor Gregory Connor:

That is a very good and difficult question in that the PwC report is not consistent with the fact that the Irish taxpayer had to pay a €35 billion capital infusion to close these banks. A going concern should not need €35 billion to be closed. In fact, it was a supported closure because, as we know, the NAMA assets were bought at above their value to provide some support.

I believe the PwC report is clearly flawed. That is all I can say. I agree there is an inconsistency, that they provided such a report, which is not justified.