Richard Bruton (Dublin North Central, Fine Gael)

-----and the legal framework must be such that it can be. That is the reason we are doing this. It has nothing to do with hollowing out legislation.

I agree - Senator Bacik also agreed - that nobody wishes to pay taxpayers' money to senior bondholders in Anglo Irish Bank. However, the situation the Government inherited was such that a great deal of money had been paid out on foot of guarantees.