Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

The figure of €30 billion of €200 billion is a result of the banks. The figure of €7 billion refers to it all. Our deficit is €140 billion. They are the figures. It is important to put them on the record.

Senators O'Donnell and Humphreys spoke about the prospect that, at some stage, somebody would be allowed to purchase his or her loan at a reduced rate. We had the same conversation when we spoke about the IBRC loan book that was traded – Senator Norris was in the House for that debate. I do not know if that can be done. My personal opinion is that the matter should be considered. Under those circumstances, there is a benefit for the individual.

My criticism of the Bill is that if it is passed, the debt still stays with the individual.