Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

While it might not have stated "under no circumstances", it gave 17 compelling reasons it should not be merged within an existing semi-State entity. At the end it stated: "Recent examples (such as Welsh Water, the former United Utilities and Hyder Group) indicate that multi utilities tend not to achieve the synergies anticipated." Ministers and the Taoiseach are wringing their hands about the bonus culture.

See this speech in context