Joan Burton (Dublin West, Labour) | Oireachtas source

Among those institutions which are in difficulty as the Senator described at great length, are pension funds. The suspension of the funding standard in 2008, shortly after the bank guarantee, did not actually help the long-term sustainability of pension funds. The Government, of which the Senator was a member, decided to do that. I think it felt, like the bank guarantee and the First World War, it would be all over by Christmas. Unfortunately, it was not all over by Christmas. There was a rally of a week when it seemed like the cleverest thing in the world.