Michael Noonan (Limerick City, Fine Gael)

There is not an opportunity cost because Bank of Ireland is getting additional funding from the ECB to repo the bond through the liquidity window. If one looks at banks all across Europe they are getting far greater quantities of money than the Irish banking system is getting. It does not impair Bank of Ireland's day-to-day business whatsoever. I agree with those who have said this is not a full and final settlement. I said that myself. It is only a first step which improves the situation for this year

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