Michael McGrath (Cork South Central, Fianna Fail)

The Deputy needs to get her reading glasses. According to Professor Honohan, the guarantee was required, because otherwise there would have been a likely collapse of the Irish banking system within days in the absence of decisive, immediate action, causing immediate and lasting damage to the economy and society. There would have been additional lost income and employment, surely amounting, if it could be quantified, to tens of billions of euro. That was his clear conclusion, which completely contradicts the Labour Party policy on the guarantee-----

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