Paschal Donohoe (Dublin Central, Fine Gael)
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-----in how we are different now compared with the past, each of which is important.

First, the level of capital our banks and European banks, in particular, hold, is significantly higher than in the past. The regulatory framework for banks, particularly systemically risky banks, has been transformed.

Second, the fiscal rules are better scoped and better implemented than they were in the past. Third, our budgetary position and our budgetary strength is also better than in the past, although we can never take that for granted.