Michael McGrath (Cork South Central, Fianna Fail)

Professor Honohan made it clear that the bank was systemically important. He said that "There can be little doubt that a disorderly failure of Anglo would ... have had a devastating effect on the remainder of the Irish banks". He went on to state that "in all likelihood the main banks would have run out of cash within days". That is the summary of Professor Honohan's ideas on the consequences of the Labour Party policy of letting Anglo Irish Bank go to the wall in a disorderly fashion.

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