Taking on bad debt

IN an Interview over the weekend Minster Simon Coveney when talking about the new government, said: “We don’t think that it’s fair or equitable that Irish taxpayers should be required to take on all of the debts associated with the mistakes made by Irish banks and by banks who lent money to Irish banks.”

His use of the word “all” implies that the minister believes that it’s fair and equitable that Irish taxpayers should be required to take on (some) of the debts associated with the mistakes made by Irish banks and by banks who lent money to Irish banks.

I would like the minister to explain to us, the taxpayers, why it is fair that we should take on any of the banks bad debts, how much of the bad debts we should take on and what public services we should forego to pay this debt?