Shane Ross (Dublin South, Independent)

I understand what the Taoiseach is saying but it has nothing to do with what I asked. Does he recognise that the two top civil servants in the country were issuing a warning, which they did not issue in 2008, that the banks must be recapitalised again because of mortgage arrears? What is the Government doing about it? The warning was not reiterated by Danske Bank. Perhaps the Taoiseach misunderstood me and perhaps my German pronunciation is not very good. Deutsche Bank is the German bank and Danske Bank owns NIB. Deutsche Bank said there was a serious danger that Ireland must recapitalise the banks by several billion euro in the very near future because of the absolute refusal of the bankers, who are leading us by the nose, to write off these loans in their books. If that happens, we are facing a similar situation to 2008, although not as dramatic. The difference is that this time we will have been warned and will have ignored it. Last time, they were not warned about it and they got it wrong.

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