Brian Lenihan Jnr (Dublin West, Fianna Fail)

On the assumption, as Deputy Burton indicated in public interviews, that there should be a 50% discount on the loan book, it would require the State to borrow an additional €10 billion to €14 billion to recapitalise the banks. Even under the benign assumption that additional borrowings of this scale would not affect the interest rates on Government bonds, the interest costs of this additional capital would be between €600 million and €700 million each year. That is some mortgage to put around the Irish people's necks-----

(Interruptions.)

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