Ciarán Lynch (Cork South Central, Labour)
Link to this: Individually | In context | Oireachtas source

And going back to your earlier comments, between fundings for the bank and funding for the State, I think when you were talking to Deputy Murphy, IMF funding would help the State to deal with its deficits and the European Central Bank was dealing with the bank liquidity issues. Given that the adjustment programme ... that the bailout programme actually brought was approximately addressing a €30 billion deficit, could the proposition be made that the Irish State was actually now insolvent and that's why the bailout programme was required and, therefore, the banks were not solvent at the time of that letter?