Susan O'Keeffe (Labour)
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Professor Connor said on page 7 that the bank guarantee was a "costly error". When Mr. Donal Donovan appeared before the committee, he said it was difficult to see any alternative that would "have led to a materially different outcome". Governor Honohan said that while he was critical of some elements of the guarantee "something had to be done for at least some of the banks". What is Professor Connor's view, given his description of the guarantee as a "costly error"?