Brian Lenihan Jnr (Dublin West, Fianna Fail)

Yes, and even if the extraordinary set of circumstances outlined by Senator O'Toole came to pass, the State insisted on the gradual winding down of the assets of a bank and there were a deficit at the end of that procedure, the Government has made it clear that its policy would be to levy the banks to the extent of that deficit. The purpose of this legislation is to prevent any exposure to the taxpayer. Although the figures about the relative assets and liabilities in the banking institutions and the fact that there is a cushion there were outlined in the House, the assumption should not be drawn that we will automatically have to lay our heads on that cushion. We will not.