Arthur Morgan (Louth, Sinn Fein)

On my and my party's behalf I offer my condolences to the Minister on his recent family bereavement.

My question relates to the bondholders, both senior and subordinate. Is the Minister aware that the terms of securities allow for the possibility of them not being paid back if a bank is insolvent? Clearly, that was the case here. Is he familiar with the term "the value of your investment can go down as well as up"? We hear it every day on the media. Does that apply in the case of securities other than sovereign debt?

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