Paul Murphy (Dublin South West, Anti-Austerity Alliance) | Oireachtas source

The problem will be when the money runs out in the common European banking funds and the resolution funds, because the money can run out when we speak about amounts of €360 billion. Who will pay for it then? Take the example of Deutsche Bank, which was being described as a potential Lehman Brothers 2.0. Obviously, it subsequently returned profits and things have calmed down slightly, but it is a systematic bank in terms of the entire European banking system and it is acting like the Irish banks pre-crisis, just selling off whatever it can in Las Vegas, China and Britain to try to get a cash for itself. The point comes back to here. A renewed European banking crisis would have a major impact on the Irish banks. In the most recent stress test by the ECB, the Irish banks emerged among the weakest. How would the Irish banks and the Irish economy react to such a significant banking crisis?

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