We're paraphrasing but that's the argument put forward by a veteran member of everyone's favourite gombeen party, Fianna Fail.
In a debate with TD Paul Murphy on Newstalk's 'The Right Hook' earlier Noel managed to articulate the truly astounding narrative that if Fianna Fail, and the political remora fish that is the Green Party, had not gifted tens of billions of our taxes to secured and unsecured bondholders, we wouldn't have any money in our bank accounts.
Putting aside the fact that a lot of people, especially those who aren't on generous ministerial pensions, actually don't have any money in their bank accounts, that argument is what is being aimed at radio listeners by the people and organisations that promote the interests of the capitalist class.
This narrative is popular among right wing pundits and was previously expounded by Shane Coleman, also of Newstalk. Arguably, he said, since the economy is 'recovering', the left wing people who said we should have burned the bondholders, have been proven wrong.
So giving away €64,000,000,000 that we didn't have in the midst of an economic crash is how the right wing goes about 'recovery' but whenever they're debating the left, they talk about being 'realistic'. This is how straightforward class warfare is masked and promoted, this is the modern bourgeois media in Ireland.