Brian Lenihan Jnr (Dublin West, Fianna Fail)

Burden sharing is established in respect of subordinated instruments. When the Minister refers to burden sharing, I take it that he is discussing unguaranteed debt in the banks rather than guaranteed debt or sovereign debt. I would like clarification on this issue.

Regarding the rather undifferentiated language about burning bondholders, does the Minister accept that our banking system is significantly dependent on attracting funding from abroad and that the constant extension of this debate is not of assistance to the banks in attracting funding?

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